Why is economy in a free-fall?: KT Rama Rao slams Telangana govt's 'incompetence'

BRS working President KT Rama Rao on Monday cited a Comptroller and Auditor General (CAG) report and alleged that Telangana's economy is "crumbling under the weight of Congress incompetence" and asked "why is the economy in a free-fall?"

In a post on X, the BRS leader said, "This is a serious Red Flag! I never thought we would have to witness this - the latest CAG Report screams alarm bells. There is a sharp decline in Telangana's growth. A failed Congress party's governance results in a failed economy. They promised 6 guarantees but delivered only a failed economy".



He also alleged that the Telangana government is grappling to raise financial resources as the debts are "zooming up"

"Income is on a downward trend, the debts are zooming up. This isn't rocket science. This is plain math. Telangana's economy is crumbling under the weight of Congress incompetence"

He further alleged that government is staring at revenue deficit running in crores of rupees.

"You projected a ₹ 2,738 crore surplus budget, but today Telangana is looking at ₹ 10,583 crore revenue deficit...just by the end of the first quarter. The non-tax revenues are seeing a sharp decline. Only 3.37 percent of the budgeted ₹ 2,26,720 crore was achieved!"

The government has already borrowed Rs 20,266 crore which is 37.5 % of the annual target, he pointed out.

"Without even laying a road or commissioning a new project, without even providing students with a decent square meal - this government spent Rs 20,266 crore!!!"

The former Minister questioned the government's expenditure.

"Where is the expenditure going? Also, why is the economy in a free-fall? All those who made tall claims of Telangana economy being on auto-pilot, can they explain this phenomenon? Can the financial experts of Congress tell how they plan to bring the state's economy back on track?" (ANI)