Chief Minister Revanth Reddy has formally requested that the Finance Commission allocate 50 percent of the state’s share from central taxes. The request was made during the 16th Finance Commission meeting held at Praja Bhavan on Tuesday. CM Revanth Reddy outlined the current economic situation in Telangana, emphasizing the state’s economic challenges despite its strong foundational growth.
Telangana, referred to as a ‘Future State,’ faces a significant debt burden, now totaling Rs 6.85 lakh crore. CM Revanth Reddy highlighted that substantial loans taken over the past decade for infrastructure projects are currently consuming a major portion of the state’s revenue. He stressed the need for careful management of these loans and interest payments to avoid hindering the state’s development. In his address, Reddy also requested adequate support to address the loan issues, suggesting either a restructuring of the loans or additional financial assistance to strengthen Telangana’s economic position. He reaffirmed the state’s ambition to become a trillion-dollar economy and contribute to India’s goal of becoming the third-largest global economy.