Hyderabad: A day after the Congress govt introduced Rs 3.05 lakh crore budget, chief minister A Revanth Reddy on Thursday said the state paid Rs 1.55 lakh crore, both interest and principal, in the past year to service debts, and this situation has made it challenging to raise loans from the market.
Addressing new employees who received compassionate jobs in the panchayat raj and municipal administration departments, the CM said, “People say that I should not share harsh truths openly, but I want to be transparent with you. If that money was available to the govt, I could have waived farmers’ loans in one go within a few hours, and I would have provided every poor person in the state with a house.”
“There is no benefit in hiding the reality. When loans at low interest rates of 3% to 5% are accessible through institutions such as World Bank, the then (BRS) govt took a large loan for Kaleswaram at an 11% interest rate because that mechanism does not require a detailed project submission and involves corruption. This has created a significant burden on our Congress govt, which we will have to bear for a long time,” Revanth said.
Revanth also expressed concern over Rs 8,000 crore pending pension benefits.
“Due to the loan burden, we are releasing only small amounts for pensions to retired employees. Each year, 1,000 employees retire, and even a grade IV employee is entitled to benefits worth Rs 50 lakh. We are trying to manage the loans and have convinced some banks to offer lower interest rates,” he explained.
Indirectly criticising BRS working president KT Rama Rao, he said, “These people are investing their black money into WhatsApp and social media campaigns. They accuse us for retired employees protesting in the secretariat to seek payment of bills. They can protest because I believe in democracy and want people to express their grievances. During your time, prof Kodandaram received police attacks, and nothing has changed since then – only the cabinet has changed. Same police and the same IAS officers remain in place. If I were like you, I could also stifle voices, but I am not. I know the pain of the people.”
Addressing BRS allegations that he has no control over governance and that people were unhappy, he asked, “Why would people be unhappy with me? For waiving loans of farmers or for providing appointment letters to 53,000 employees? It is ironic that they claim I lack governance skills. I work 18 hours a day at the secretariat and elsewhere. How can KCR, who never visited the secretariat, claim to have a grip on governance?”
