Finance Minister lashes out at KCR for criticizing $5trn-GDP goal

Hyderabad: Union Finance Minister Niramala Sitharaman has strongly condemned the remark of Telangana Chief Minister K Chandrashekar Rao in the recent Assembly session calling Prime Minister Narendra Modi's ambitious goal of India achieving $5 trillion economy as a "joke". She was here to take part in an interactive session on the Union Budget 2023-24 on Thursday.

She said, “We have set a target and trying to achieve it in all possible ways. All States are trying to contribute something to reach the goal of making the country a $5-trillion economy. Telangana Chief Minister must not criticize the aspirations of the people. Joking about our ambition is showing disrespect towards the public.”

At the same time, the Union Finance Minister pointed out that Telangana had only Rs 60,000-crore loan by 2014 that was accumulated over a period of time by the previous governments. I agree that the pandemic has increased the loan burden on the State. In the last 7-8 years, the loans have increased to more than Rs 3 lakh crore during the TRS-regime, she said asking the CM to be more responsible.

When asked about the decline in allocations to the Mahatma Gandhi National Employment Guarantee Scheme (MGNREGS) in this Budget, the FM said: “I clearly explained in the Parliament that MGNREGS is mainly demand driven. Every year, we are spending more than the allotted expenditure on this scheme in the respective Budgets from 2014 to now. I have compared with data of each year.”

She says, “Before 2010, the previous government at the Centre has spent three times lesser than what is allocated in the Budget. However, Telangana CM has appreciated them. Those who proudly say that they have introduced the scheme also didn’t spend what Modi-led government has spent on this. You may cross check the data available.”

There are allegations that Telangana has contributed Rs 4 lakh crore to the Centre through taxes, while the State has received only 1.5 lakh-crore aid during 2014-23. For that, the Union minister explains: “Telangana has contributed Rs 1,30,000 crore in the form of taxes to the Centre, and it has received grants in aid to a tune of Rs 1,39,000 crore in the past 7-8 years.”

Apart from this, the State was allocated Rs 4,480 crore for Rail Infrastructure and Safety projects. In the last year alone, it has received Rs 3,048 crore. In this year Budget, the Centre has announced Indian Institute of Millet Research to be developed as per international standards. Bharat Shared Repository of Inscriptions with Archeological Survey of India was also initiated in this Budget.

As Hyderabad is claimed to be the largest data hub, the Central government’s National Data Governance Policy will directly benefit this State. This policy will help in taking benefit from the anonymous data. The Centre has announced 51 pharma sector related PLI schemes. Among them, 15 will benefit the State of Telangana, the minister informed to the media. 

All States are trying to contribute something to reach the goal of making the country a $5-trillion economy. Telangana Chief Minister must not criticize the aspirations of the people. Joking about our ambition is showing disrespect towards the public

- Niramala Sitharaman, Union Finance Minister