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Telangana is financially sound, claims Eatala

As against the target of Rs. 43,000 crore, the Telangana State earned an income of Rs. 37,000 crore in the last five months of current financial year.

Addressing a press conference here on Saturday, Finance Minister Eatala Rajender said that the State’s revenues were quite good as 92% of revenue collection targets have been achieved. He said the figure might touch 95% in the next 10 days. Likewise, he said so far, Rs. 37,634 crore were spent, including Rs. 27,000 crore under Plan Budget. He said that the State Government has drawn Rs. 7,000 crore out of Rs. 15,000 at an interest rate of 8.1-8.2% under the Fiscal Responsibility and Budget Management (FRBM).

Eatala said steps were being taken to plug the leakages in all the departments to ensure zero irregularities or misappropriation of funds. For the same reasons, he said funds for some welfare schemes like Arogyasri were delayed. Dismissing the reports which appeared in a section of media and the allegations of opposition parties of a financial crisis, he said that the Telangana’s financial position was completely sound and the government had sufficient funds to implement all the welfare schemes and promises. (INN)