Revanth Reddy’s Six Guarantees: A Financial Burden on Telangana?
Revanth Reddy’s Six Guarantees: A Financial Burden on Telangana?
A Revanth Reddy, the president of the Telangana PCC, has a huge challenge ahead of him after defeating the Bharat Rashtra Samithi (BRS) led by K Chandrasekhar Rao in the most recent assembly polls. Reddy is expected to assume state leadership on Thursday.
He now has the difficult task of keeping the “six promises” made by the Congress party in the lead-up to the polls. Although these assurances caused Congress to romp home, it is easier said than done to obtain the money for them.
The most alluring perk of the “six” is that Telangana State Road Transport Corporation buses provide free transportation for women.
State government sources told PTI that the RTC makes an approximate total of Rs 2,500 crore a year from female passengers. The Congress administration will need to provide the same amount to the company, which is suffering from cumulative losses of Rs 6,000 crore if the plan is to be carried out.
Congress pledged to forgive farm loans up to Rs. 2 lakh. To waive up to Rs one lakh, the BRS government has budgeted Rs 21,000 lakh crore. The estimate shows that to carry out the farm debt waiver, the Congress government must set aside a minimum of 35,000 lakh crore over the next five years.
Statistics from the state government indicate that during the previous agricultural debt waiver regime, up to 42 lakh farmers were designated as beneficiaries.
Similarly, under the “Rythu Bharosa” assurance system, the grand old party pledged to pay farmers Rs 15,000 and farm laborers Rs 12,000 per acre yearly.
Farmer payments under the BRS government’s Rythu Bandhu were Rs 10,000 per year.
Over the past five and a half years, the previous BRS administration had given Rs 72,000 crore under a program like Rythu Bandhu, benefiting 70 lakh farmers. The poll code prevented the release of the most recent version.
After winning 64 seats in the elections on November 30th, Congress is forming the government. Results: BRS 39, BJP 8, MIM 7, CPI 1.
The Telangana budget for 2023–24 states that total revenue was expected to be 2.16 lakh crore, while revenue expenditures were estimated to be 2.12 lakh crore.
Read This Also: KCR suffers hip fracture in bathroom fall expected to recover in 6-8 weeks
According to the Budget estimates for 2023–24, Telangana’s outstanding public debt is anticipated to be Rs 3,57,059 crore or 23.8% of GDP.
According to sources who spoke to India Today on Wednesday, Congressmen Sonia Gandhi, Rahul Gandhi, and Priyanka Gandhi Vadra would be present during Revanth Reddy’s oath of office as Telangana’s chief minister.
