Call it irony or strange paradox, while the neighbouring Andhra Pradesh state is being projected as a state that is facing severe cash crunch, Telangana state has been projecting itself as a state flush with funds.
And to substantiate their claims, Telangana leadership also presented a Rs 1,15,000 crore budget for this fiscal year.
But now, the state of affairs is such that it is unable to clear pending bills and this has become a huge problem for the leaders who had made tall claims in the past.
As per budget estimates, the state was supposed to make Rs 29,000 crore revenue. But the state hasn't managed to make that kind of money during the first quarter.
It is said that it has only made Rs 17,000 crores in all and in that it is said that it made Rs 10600 crores from taxes and another Rs 2700 crores was procured from the Centre. This apart, the State also managed another Rs 3700 crores by securing loans.
In the Budget, it was clearly stated that the State was expecting a revenue of Rs 13,500 crores through sale of government lands and regularisation of already existing lands. However, due to fall in realty prices and drastic fall in the sale of lands, the State has made only Rs 200 crores through regularisation. So the State has stopped paying bills.
After great effort and in an attempt of face-saving, the government released Rs 2083 crores for waiving farm loans. Though they are paying salaries to government employees, all other bills have been put on hold.
Well, this is the state of affairs or rather financial affairs in Telangana state.
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