Telangana government’s ambitious plans of taking up various development projects have gone haywire after the center is sitting on the proposals to raise Rs 1.50 lakh crore from various funding agencies like BRICS Bank in China and Rabobank in the Netherlands. The state government is asking for the raising of the borrowing limit under the FRBM Act to 3.5 per cent of Gross State Domestic Product from the current 3 percent.
However, the Center is expressing doubts over GSDP figures submitted by the TS government and so far has permitted only 3.25 percent. 3.5 percent FRBM limit would have enabled the state government to mobilise an additional Rs 3000 crore from the market, it has to now be satisfied with just Rs 1500 crore.
The state government officials lament that they have been pursuing the case with Center for the last eight months but to of no use. Things have not changed much despite, the Chief Minister K Chandrasekhara Rao heaping praises on Narendra Modi in recent times. KCR back then asked Modi his love to Telangana but not hefty funds and probably Modi has taken it seriously.