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Telangana financially on a firm footing

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Despite the dent in revenues during the last two years due to Covid pandemic and lack of help from the Centre, Telangana financially appears to be on a firm footing.

With a higher growth rate and per capita income than many bigger states, India’s youngest state has become the fourth largest contributor to national GDP in a short span of less than eight years and claims to be a model for the entire country in welfare and development.

According to 2020-21 budget estimates, Telangana’s estimated outstanding public debt will be over Rs 2.86 lakh crore. However, the economists say the state has the capacity to manage debts.

According to a study paper released by the Reserve Bank of India (RBI) last month, Telangana’s debt-to-GSDP ratio is the lowest in the country, indicating the fiscal health of the state.

Based on the annual data between 2014-15 and 2018-19, the study paper revealed that the State Performance Composite Index (SPCI) of Telangana has improved. SPCI measures both the fiscal performance and market development of states.

The average debt to Gross State Domestic Product (GSDP) of Telangana from 2014-15 to 2018-19 was 16.1 per cent, which is the lowest among the states in the country.

According to state finance minister T. Harish Rao, Telangana is among the states having the lowest debt burden in the country, dismissing the claim by the opposition parties that the Telangana Rashtra Samithi (TRS) government has pushed the state into a debt trap.

Harish Rao had told the state Assembly last year that Telangana’s debt burden is only 22.8 per cent of GSDP, which is well within the permissible limits under the FRBM Act. Telangana was then at the third place from the bottom in the country.

“The Centre’s debt burden is 62.2 per cent of GDP while Telangana’s debt burden is just 22.8 per cent of GSDP,” he had stated.

The RBI also revealed recently that Telangana is the fourth largest contributor to the country’s economy. According to “Handbook of Statistics on the Indian Economy 2020-21” the Net State Value Added (NSVA) by Telangana at current prices to the country increased from Rs 4,16,930 crore in 2014-15 to Rs 8,10,503 crore in 2020-21.

Leaders of ruling TRS say this contribution is significant considering the fact that Telangana is the 11th largest state in terms of geographical area and 12th in terms of population.

According to Telangana State Statistical Abstract Report released this week, provisional estimates show the GSDP of Telangana at current prices in 2020-21 was Rs 9,80,407 crore. Between 2012-13 and 2020-21, the average annual GSDP growth of Telangana was 6.8 per cent and GDP of India was 5.1 per cent.

For 2021-22, the state presented a Rs 2.31 lakh crore budget despite the pandemic drastically impacting the state’s economy. For 2020-21 the budget size was Rs 1.82 lakh crore.

The budget for FY22 comprised revenue expenditure of Rs 1.69-lakh crore and capital expenditure of Rs 29,046 crore. The fiscal deficit went up to Rs 45,509 crore from Rs 33,191 crore in the previous financial year.

Telangana’s growth rate has been consistently higher. In 2018-19 it was 9.8 per cent against GDP growth rate of 6.5 per cent. The growth rate was 6 per cent in 2019-20 against GDP growth rate of 4 per cent. In 2020-21, it was -0.6 per cent against All India -7.3 per cent.

In another key performance indicator, the per capita income of Telangana increased from Rs 91,121 in 2011-12 to Rs 2,37,632 in 2020-21. This is against all India averages ranging from Rs 63,462 in 2011-12 to Rs 1,28,829 in 2020-21.

In another boost for Telangana, the latest data by the Centre for Monitoring Indian Economy revealed that the state has lowest unemployment at 0.7 per cent.

Economist Papa Rao believes that Telangana has no financial worries as it is performing well despite not receiving the support from the Centre. “Some debts were unduly raised but the state has the capacity to manage them. It can generate its own resources,” he said while pointing out that the state’s tax revenues have gone up during the current year. He, however, said the state should be cautious in raising new loans.

According to him, Telangana in a short span of time has emerged as a progressive state with Hyderabad as the growth engine attracting massive investments. The state created assets in the form of irrigation projects and Mission Bhagiratha which envisages drinking water supply to every house.

He, however, believes that Dalit Bandhu scheme launched by TRS government recently is not viable. Under the scheme claimed to be the only one of its kind in the country, the government plans to provide Rs 10 lakh grant to every Dalit family.

“There are 50 lakh Dalit families. Mobilizing such huge funds is very difficult. This may take many years and may not yield desired results,” Papa Rao said.

Pointing out that an overwhelming majority of Dalits are agriculture labourers, the economist said distribution of land rather than cash would have been more practical.

The state claims to be number one in welfare in the country with a welfare budget of over Rs 40,000 crore. It is implementing a plethora of welfare schemes from social security pensions to various categories to financial help for marriages of poor girls to Rythu Bandhu under which every farmer gets Rs 10,000 as annual investment support for every acre.

However, opposition Congress party leader Dasoju Srravan says that welfare programs should ultimately empower people. “Farmers’ suicides have not stopped despite Rythu Bandhu. During the last 4-5 years 8,000 farmers have ended their lives. Farmers do not want Bandhus, they want MSP for the hard work they put in and market support for agricultural produce,” he said.

The national spokesperson of the Congress party believes that the TRS government is focusing more on voter alluring programs but not voter empowerment programs. “As a result the state has landed into a serious debt trap and today we are a financially bankrupt state. We don’t have money for salaries and we don’t have money for repayment to contractors.”

He blamed lopsided priorities of the government, mismanagement, callous understanding of development for this situation. “On top of it is mysterious corruption in projects. TRS leadership has become extremely rich overnight,” he said.

The Congress leader alleged that the state government is making people addicted to liquor by opening more and more wine and bar shops across the state. “It is giving pensions and some money under Rythu Bandhu but draining their resources through sales tax on liquor. See how liquor revenue has increased in these 7-8 years,” he said.

The revenue from liquor sales, which was Rs 10,833 crore, has gone up to Rs 27,888 crore in 2020-21.

He alleged that the TRS government completely ignored sectors like education, health and employment generation

“The chief minister proudly says a private villa in Hyderabad costs Rs 25 crore and still people are coming and buying. Is that a development indicator? It is a third-rate governance indicator. In management we call it critical incident analysis while analyzing performance. The CM made critical comments reflecting his innate mindset and how he sees development,” Srravan said.

National News

Congress MP Imran Masood calls for banning liquor during Navratri

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Saharanpur, March 29: Congress lawmaker Imran Masood said on Saturday that not just meat shops, liquor establishments should be shut during the nine-day festival of Navratri and called for embracing and promoting the spirit of brotherhood and communal harmony.

“Everybody is demanding a ban on meat shops during Navratri. Why is no one asking for a ban on liquor shops? Why is there no outpouring on the free flow of liquor during Navratri? Will this not spoil the purity and sanctity of the festival?” Saharanpur MP said in a special interaction with media.

The Congress Parliamentarian said that peaceful celebration supersedes everything, and it is incumbent upon all communities to maintain decorum during festivities and also make certain sacrifices, be it Eid or Navratri.

Notably, Eid-ul-Fitr and Navratri are coinciding on the same day this year. Both festivals are set to fall on Monday, with little possibility of change in the Eid schedule on account of moon sighting.

Days ago, the Congress MP also extended support to the demands of a meat ban during Navratri celebrations. In an apparent message to the Muslim community, he said that nothing would change if one did not eat meat for ten days.

“What matters above everything is the peaceful co-existence of communities. At no point in time, the differences over food preferences lead to communal strife,” Masood told newspersons.

Congress MP, when asked questions on the party’s strategy for the Waqf (Amendment) Bill, said that the Opposition is fully prepared to take on the Centre on “partisan legislation”.

“We opposed the amendments in the JPC meeting, tooth and nail. We will strongly voice our dissent in Parliament too,” he said.

Notably, Union Home Minister Amit Shah said on Friday that the Waqf Bill will not be delayed any further and will be reintroduced in the ongoing session of Parliament.

Only four working days of the Budget Session are left, as it concludes on April 4.

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National News

‘PM Narendra Modi Relies On Crutches Of Nitish Kumar And Chandrababu Naidu To Pass Waqf Bill”: AIMIM Chief Asaduddin Owaisi

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Hyderabad: All India Majlis-e-Ittehadul Muslimeen (AIMIM) chief Asaduddin Owaisi spoke on the Waqf Amendment Bill 2024 and said that the BJP does not have a majority in the Lok Sabha, and if Chandrababu Naidu and Nitish Kumar oppose it, it won’t be passed.

While speaking to media, Asaduddin Owaisi said that PM Narendra Modi is relying on the crutches of Chandrababu Naidu and Nitish Kumar. He stated that Union Home Minister Amit Shah is spreading lies in the country regarding the Waqf Bill.

“Amit Shah is the Home Minister of the Government of India and his statement is proof of the fact that you trying to make an unconstitutional law which can be challenged in the court. This is a violation of the articles of the Constitution and the Waqf of the entire country will suffer because of it. You are removing the section of the Waqf property, who will benefit from it. You are omitting the revenue of lakhs of rupees. Amit Shah is lying to the country that you can challenge the Waqf Tribunal in the court. Prime Minister Narendra Modi relies on the crutches of Nitish Kumar and Chandrababu Naidu and if they do not support this unconstitutional bill, then this law will not be made”, Asaduddin Owaisi said.

Earlier on Friday, Owaisi supported the ‘black band’ protest against the Waqf (Amendment) Bill. Owaisi, who is also part of the JPC on the Waqf bill, joined in the symbolic protest on Friday by wearing a black armband as he offered prayers.

Meanwhile, Union Home Minister Amit Shah said on Friday that Waqf Amendment Bill, on which JPC has given its report, will be tabled in the Budget session of Parliament. The Budget session is slated to conclude on April 4.

“Nobody needs to get afraid of the Waqf Bill. In 2013, the Congress-led government passed the Waqf Bill and made several provisions that are not aligned with our Constitution. We are now trying to align the bill with constitutional principles,” he said.

Asked about Asaduddin Owaisi’s black arm band protest, Amit Shah said people have a right to do so. “Some do it through their clothes, some through their words. In Parliament, one opposes through logic,” he said.

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Crime

Accused in Saif Ali Khan stabbing case files bail plea, claims innocence

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Mumbai, March 29: Mohammad Shariful Islam Shahzad, the accused in the stabbing of Bollywood superstar Saif Ali Khan, has filed a bail petition in the Mumbai Sessions Court, asserting that he is innocent and the case against him is fabricated.

The attack took place in the early hours of January 16 when the accused allegedly entered Saif’s Bandra residence through his youngest son Jeh’s room.

The actor, who was reportedly trying to fend off the assailant, suffered multiple stab wounds. Despite his injuries, Saif managed to go to the hospital on his own, accompanied by his son Taimur.

Shariful Islam Shahzad’s petition, filed through his lawyer, claims that the FIR was wrongly registered and that he has fully cooperated with the police investigation.

His legal team argues that since all evidence is already in police custody, there is no risk of tampering, and therefore, he should be granted bail.

Currently, the case is being handled by the Bandra Magistrate Court, but it falls under the jurisdiction of the Mumbai Sessions Court. Once the police file a charge sheet, the case will be transferred to the Sessions Court. However, the charge sheet is yet to be filed.

According to media reports, doctors removed a 2.5-inch knife from Saif’s wound. The actor sustained six stab injuries, two of which were serious as they were near his spine.

The incident reportedly occurred around 2:15 am on January 16 when the accused broke into the house, attacked the house help, and then stabbed Saif when he intervened.

Saif was alerted by noises from Jeh’s room, where he found the accused in an altercation with the house help. Attempting to protect the staff, Saif fought off the intruder with his bare hands before being stabbed multiple times.

Investigations have revealed that the accused, a Bangladeshi national, intended to rob a wealthy individual to finance his mother’s medical treatment in his home country. He has a history of petty theft and was previously dismissed from restaurants in Worli and Thane for stealing.

It is also reported that the attacker was unaware of Saif Ali Khan’s celebrity status and targeted the residence purely because it was located in an upscale apartment complex.

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