Telangana State CM KCR vows to spend Rs. 6 lakh crore

Hyderabad, March 11, 2015 (Agencies) Confirming the 14th Finance Commission statement that Telangana is a wealthy Sate after Gujarat at national level, Chief Minister K Chandrasekhar Rao today vowed to put the state on the growth path with a focus on welfare.

Replying to the discussion on the Motion of thanks to the Governor for his Address to the Legislature, in the State Assembly, Rao said the State will get Rs. six lakh Crores from the Centre in five years and the government will focus on complete welfare through a plan of action. This includes Rs 3.75 lakh crore in non- plan and Rs 2.25 lakh crore in plan sector, he said adding that steps will be initiated to usher in a new era of persistent development and welfare.

He said



that 14th Finance Commission statement approved his previous contention before the division of the state that Telangana will be a rich state. He stated that there was much difference between the present NITI Ayog, in which all the chief ministers are members, and previous Planning Commission. KCR said that a total of Rs 17,000 funds will be received from FRBM (Fiscal Responsibility and Budget Management) Act 2003 of Parliament, which increased TS funds by Rs 3000 crore in addition to actual allocations of Rs 14,000 crore.

Stating that the state estimates matched with that of noted economist GR Reddy’s estimations, KCR said that Rs 30,000 crore revenue was slashed as Centre taken steps to control inflation across the nation.