Hyderabad: Deputy chief minister Bhatti Vikramarka on Saturday met Union finance minister Nirmala Sitharaman in New Delhi and requested financial aid from the Centre. He also requested her intervention for getting pending dues from Andhra Pradesh as per the AP Reorganisation Act, all worth over 28,000 crore.
Bhatti also urged the Union finance minister to ensure rescheduling of non-budgetary borrowings (loans) of 31,795 crore taken by the previous BRS govt through special purpose vehicles (SPVs).These loans were taken to fund crucial irrigation and drinking water projects from Power Finance Corporation and Rural Electrification Corporation at high-interest rates (10.75% to 11.25%). The repayment of loans has become a significant financial burden on the state.
“I explained the state’s financial situation to the Union finance minister and urged her guidance and support in instructing financial institutions to restructure these loans, aligning repayment terms with Telangana’s financial capacity and ensuring sustainable debt management. I also asked for a reduction in interest rates. Interest on debts is more than the salaries we are managing to pay. In all, I have taken eight such points to the attention of the Union finance minister,” Bhatti said.
Nirmala Sitharaman assured that a meeting would be arranged with the state govt officials and appropriate action would be taken, the Deputy CM said. Other important dues and grants due to Telangana and brought to the notice of the Union finance minister include 24,132 crore payable by AP to Telangana in matters of power purchase agreements and the electricity sector, although the Centre had fixed it at 6,756 crore.
Under Section 94(2) of the AP Reorganisation Act, Telangana was entitled to grants for developing its backward areas. Despite fulfilling all conditions and submitting utilisation certificates, the state has not received 1,800 crore dues for the financial years 2019-20, 2021-22, 2022-23, and 2023-24.
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