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TMI BlogT'gana CM acknowledges debt burden, says state borrowed Rs 4,000 cr RBI loan to pay salariesX X X X Extracts X X X X X X X X Extracts X X X X ..... T'gana CM acknowledges debt burden, says state borrowed Rs 4,000 cr RBI loan to pay salaries X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 crore from the RBI. Speaking in the Legislative Council recently, he urged the government employees to cooperate with regard to payment of Dearness Allowance (DA) and others in view of the difficult cash situation though salaries would be paid on the first of every month. "It becomes difficult to pay salaries on the first of every month. I appeal to our government employees from here....to s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erve the government, taking salaries on the first of every month. Sometimes, (we have to take a) hand loan from Reserve Bank... I paid salaries on the first by taking a hand loan of Rs 4,000 crore," he said. Noting that the government belongs to the employees, he said he would place all the facts and figures with regard to the financial situation before them so that they can give their views on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... payments. The DA and other benefits are the right of the employees, he added. Speaking at an event here on March 12, Reddy had said the lion's share of the state's revenue is spent every month on salaries, pensions, and servicing the huge debt incurred during the previous BRS regime, making it challenging to allocate funds for welfare programmes. He had alleged former Chief Minister K Chandr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... asekhar Rao had left the state's financial situation in a dire state, comparing it to "cancer." Using a Hyderabadi expression, he described the financial crisis as "upar sherwani, andar pareshani" (looking good on the outside, but troubled within). Reddy stated that while the state government generated Rs 18,000 crore to Rs 18,500 crore in revenue every month, Rs 6,500 crore is allocated to sala ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ries and pensions for government employees. Another Rs 6,500 crore is used to service the debt incurred during the BRS regime, leaving the government with only Rs 5,000 crore to Rs 5,500 crore, he said. There are around 30 government welfare schemes that require funding every month, in addition to the financial demands of various development projects, he pointed out. The government is managi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng the situation through staggered payments to different schemes and programmes, Reddy had said. PTI SJR VVK SA ROH X X X X Extracts X X X X X X X X Extracts X X X X
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