Telangana which was the only ‘surplus’ State in India along with Gujarat at the time of bifurcation is now reeling under a huge debt burden of Rs 2.20 lakh crore. And yet, both the TRS and Mahakutami are promising the moon to voters, if elected.
Both groups have promised crop loan waiver, 2BHK houses, doubling of social security pensions, enhancement of Rythu Bandhu scheme, Rs 3000 per month unemployment allowance to youth etc.
Telangana Chief Secretary SK Joshi, who reviewed the financial condition of the State, with senior officials of finance and other revenue earning departments, two weeks ahead of the new government formation, was shocked to know that it requires Rs 1.50 lakh crore to fund the promised schemes be it TRS or Mahakutami. Understandably, the Congress has promised more sops than the TRS.
The Telangana government presented a budget for Rs 1.75 lakh crore in 2018-19. If Rs 1.50 lakh crore is spent on populist schemes, where will it get the funds for development works like roads, flyovers, drinking water schemes, irrigation/ power projects etc?
Besides, the government has to bear Rs 30,000 crore per year on salaries and pensions for staff. This would mean that the new government would not be in a position even to pay salaries for staff on time, if it diverts funds to populist schemes.
Any new government which assumes office after elections will call for a report from officials on financial condition of the State.
The Cabinet Secretary has begun the exercise well in advance and the result of the findings is definitely not something that will be palatable to whoever comes to power.
