Telangana's Financial Turmoil: High-Interest Loans Hinder Development

Telangana Chief Minister Revanth Reddy has raised alarms about the financial strain on the state, attributing it to high-interest loans taken by the former BRS administration. This revelation came during a meeting with S Mahendra Dev, Chairman of the Economic Advisory Council to the Prime Minister.

Reddy stressed that the state's revenue is being channeled almost entirely towards servicing these loans, stalling other developmental activities. He urged for mutual respect and cooperation between central and state governments, underscoring its necessity for national progress.

The Chief Minister shared the Telangana government's initiatives to boost infrastructure in urban locales, including Hyderabad, showcasing the state's commitment to rapid growth despite fiscal challenges. He accused the previous regime of escalating state debt to a staggering Rs seven lakh crore.

(With inputs from agencies.)