The ruling Telangana Rashtra Samithi (TRS) has cried hoarse against the Centre changing the policy on implementing the Fiscal Responsibility and Budget Management (FRBM) Act with retrospective effect after approval of the budget by the State Assembly early this year with estimates on mobilisation of resources expenditure, and termed it discrimination against the State.
However, the Congress blamed both the TRS and Bharatiya Janata Party at the Centre for forcing the State into a debt trap with total debt at ₹4,97,296 crore as per 2022-23 budget documents, including ₹3,29,988 crore borrowed under FRBM limits and another ₹1,67,308 crore guarantees given to different corporations or outside the FRBM limits.
During a short discussion on FRBM, Congress floor leader M. Bhatti Vikramarka said they had been cautioning the State government against indiscriminate borrowings for the last four to five years and highlighting the growing fiscal deficit every year. He sought to know how the government planned to handle the situation with cut in expected borrowings and what would be its impact on the ongoing projects.
