HYDERABAD: Union Minister of State for Finance Pankaj Chaudhary on Monday informed Lok Sabha that the off-Budget borrowings of the Telangana government reduced considerably since the time Congress was voted to power in the state.
During the Question Hour, the minister said that the off-budget borrowings declared by the state were Rs 35,258 crore in 2021-22, Rs 9,597 crore in 2022-23, Rs 2,546 crore in 2023-24 and Rs 2,697 crore in 2024-25.
Meanwhile, responding to a query raised by Congress MP Chamala Kiran Kumar Reddy, Pankaj Chaudhary said that the REC Limited has already granted a time extension for the completion of works until December, 2024 at the request of Kaleshwaram Irrigation Project Corporation (KIPCL).
The rebate on interest rate may be considered upon the completion/closure of the project, the REC informed the state government. However, any change in loan amortisation schedule would result in the downgrade of KIPCL’s account classification (from standard to Sub-standard) in the books of PFC/REC Ltd in accordance with the guidelines issued by the Reserve Bank of India, the Union Minister said.
