The office of the Comptroller and Auditor General (CAG) of India exposed the various financial tricks being resorted to by KCR for projecting Telangana as a budget surplus state.
In its budget report of 2016-17, the Telangana government had declared a revenue surplus of Rs 1,386 crore. But apparently, according to the CAG, the government had overstated the revenue surplus by Rs 6,678 crore which meant the State actually had a revenue deficit of Rs 5,392 crore.
This means a man who was deep in debt was actually portraying himself as having excess cash. Why? The answer is best left to the readers!
Here’s another thing that the farmhouse owner did. He raised capital through bonds called UDAY bonds to the tune of Rs 8,931 crore to pay the power distribution companies. But he paid them only Rs 7,500 crore. The money thus raised should not be used for anything else. So, where did the remaining Rs 1,431 crore go?
And here’s the icing on the cake. Of the Rs 7,500 crore paid to the distribution companies, KCR projected Rs 3,500 crore as equity or stake in those companies which basically makes the government, a part-owner in those firms.
In other words, KCR was borrowing money to pay the distribution companies and he was showing the borrowed amount as revenue. How can this be possible?
It is very much possible in the process of achieving his Bangaru Telangana, only that the Bangaram is not for the people of Telangana but for his own family, with one of them, his relative, recently being elevated to the status of Rajya Sabha member.
It is about time that KCR realised that although he might not have any worthy opponents in the State for the moment, Narendra Modi and Amit Shah are people who are of a different material altogether. If he gives them even a whiff of a chance, his carefully constructed castle on the foundation of hatred can come crashing down.
