Telangana Chief Minister K Chandrasekhar Rao has yet again made a tall claim that "Telangana is a rich state" on June 25, 2020.
Telangana government failed to pay even full salaries and pensions for state government employees and pensioners for three months from March to May citing financial crisis on account of corona lockdown. Recently, KCR announced that full salaries and pensions will be paid for this month June.
Corona-lockdown was enforced completely in Telangana only from March 22 to March 31, that is 10 days. The lockdown was enforced for entire month in April. From mid-May, partial relaxation was imposed.
This means, Telangana was under complete lockdown hardly for two months. But government could not pay salaries and pensions for three months.
When Telangana government cannot withstand even just two-month financial crisis, how could it be termed a 'rich state' by KCR?
Also, Telangana's debt burden was just Rs 70,000 when state was formed in June 2014 and KCR became CM.
The debt burden under KCR's rule has now increased to Rs 2.90 lakh crore.
Just for repayment of loans, the Telangana government is paying Rs 14,600 crore per year as interest.
The government is paying Rs 3,100 crore per month towards installment for repayment of loans and interest.
In the last three months from April to June, Telangana government auctioned bonds to raise Rs 12,500 crore loans to meet its expenditure.
This clearly shows Telangana State is pushed into a 'debt trap'. Despite all this, KCR continues to make tall claims that Telangana is a rich state. The question is how long Telangana people will believe his tall claims?