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The Hindu
The Hindu
National
The Hindu Bureau

How is State economy good when it pays ₹18,000 crore as interest on loans every year: Congress

Former PCC president Ponnala Lakshmaiah ridiculed Chief Minister K. Chandrasekhar Rao’s claims on Kaleshwaram project and challenged him to release a white paper on the additional acres brought under cultivation with Kaleshwaram project.

He said despite requests from Congress for a debate on the issue, the CM has never responded as he knows the reality. The CM has never explained the project cost, how much was spent, how much loan was raised and the interest amount being paid. None of these questions are answered but the CM continues to mislead people with the same old claims on utilisation of Kaleshwaram project. “Even today I vouch that Kaleshwaram water has not been utilised at all except lifting it and releasing into the sea.”

He said Congress has constructed 33 projects under Jalayagnam and the TRS constructed just four projects and that too for minting money. KCR is responsible for pushing the State into debt and future generations will suffer. From ₹74,000 crore debt in 2014 it has increased to ₹3.6 lakh crore.

At a separate press conference, TPCC spokesperson Ayodhya Reddy said the government was paying ₹18,911 crore as interest on loans every year and the Chief Minister claims that the economy of the State is healthy. The government is showing even the loans as income of the government.

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