Facilitate provision to restructure debts or extend assistance, Revanth to Finance Commission

Chief Minister reminds that Telangana was an economically growing, rapidly transforming State, which contributed a lot to the nation

Hyderabad: Chief Minister A Revanth Reddy appealed to the 16th Finance Commission to facilitate a provision of either restructuring debts or extend additional assistance.

” I speak for all States on this increase allocation of central funds to States from 41 percent to 50 percent. I promise you, if you can do this, I will take a huge responsibility of Prime Minister Narendra Modi’s vision to make India a 5 trillion dollar economy. I will make Telangana 1 trillion economy,” Revanth Reddy said to the Commission members here on Monday.

Welcoming the Commission members, the Chief Minister said Telangana was the youngest State of India. “We now call – The Future State,” he said.

He reminded that Telangana was an economically growing, rapidly transforming State, which contributed a lot to the nation.

Despite strong advantages, and a good economy, the State was facing huge challenges, he said, adding “We have a heavy burden of debt, which now stands at over Rs. 6.85 lakh crore, as of end of last financial year. This includes both budgeted and off-budget borrowings,”

“If we don’t manage our loans and interest payment it will slow down our progress. We seek your support in helping us address this problem,” The Chief Minister said, stressing “We look forward to your support in strengthening fiscal federalism,”