Telangana Chief Minister A. Revanth Reddy pays tribute to freedom fighters on the 78th Independence Day, in Hyderabad.
Credit: PTI photo
Hyderabad: Saying that Telangana was completely ruined during the last 10 years under BRS rule, chief minister A Revanth Reddy, in his maiden independence day speech from Golconda Fort, said his government will take financial assistance from the World Bank to restructure the state.
He also asserted that the Congress's election to power on December 3 last year actually liberated Telangana.
“The state economy was completely ruined when the Congress assumed power in the state. The debt burden mounted by 10 times. The total state debt at the time of formation of Telangana was Rs 75,577 crore and it has increased to Rs 7 lakh crore in December last year. Government released a white paper on State finances and also committed to revitalise the state economy,” he said.
Revanth Reddy further said that the Congress government is already making efforts to restructure the state debts.
“We met with the World Bank President during our recent visit to America. I am delighted to announce that talks with the World Bank representatives were held in a cordial manner in extending financial assistance with low interest rate for state development.
My government will not commit the mistakes of borrowing funds with higher interest rates and putting a heavy burden on people. Despite facing financial hurdles, the government is making efforts to fulfill the promises of Abhayahastham with a commitment of bringing happiness in every family,” Revanth Reddy said.
He observed that after a decade of Telangana's formation, the people' government was in tune with the aspirations of the citizens. They recognise the sacrifices of the youth and students' struggle.
Telangana State was originally liberated on December 3, 2023, he said.
“The government was elected by the people and for the people. The state is witnessing a democratic government for the first time. My government accorded the first priority to revive the freedom which Telangana was deprived of for the last 10 years.
"We broke the shackles of physical and psychological slavery. Today, people have the freedom to question the government. A facility was also created to seek suggestions from people on how to run the government according to their needs.
"The state government is functioning in the interests of the majority of people. The government is ready to rectify mistakes, if any. We have been maintaining restraint though some forces made false allegations against the government. The government is functioning with utmost conscience and inspiration,” he said.