Distress Sale in Telangana, Jagan Worried

Distress Sale in Telangana, Jagan WorriedBoth the Telugu states have gone the way of Freebies ever since Late YS Rajasekhara Reddy, Parties are promising the moon and even more to come to Power and later trying to get the finances to fund them. This did not even stop in the Capital less Andhra Pradesh.

Telangana which has inherited a Surplus Budget is also struggling with finances. The State Government had already exhausted its loans limit allowed for this year and now is struggling to find funds for daily expenses and schemes. With no chance of going for fresh loans, the Government has decided to auction the government lands in all the districts.

The Target is to pool in at least 10000 Crore and the bulk of that would come from Hyderabad and surroundings. 40 acres in Kokapet and another 180 acres in Rayadurgam are likely to go under the hammer. This is almost like a distress sale by the state and that has worried Andhra Pradesh Chief Minister YS Jagan Mohan Reddy.

If this is the case with Cash-Rich Telangana, even tougher times await for Andhra Pradesh. Jagan is just delaying the start of his various promises in the name of their Start Date but things are going to get tough sooner. The revenues of the first three months of Jagan role paint a very gloomy picture. Needless to say, Jagan is worried.

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