Telangana’s total liabilities stood at Rs 3.22 trn by 2021-22: CAG report

Telangana’s total liabilities including public debt stood at Rs 3,21,611 crore by the end of the last financial year even as the guarantees provided by the state government was Rs 1,35, 283 crore, according to a CAG report placed in the Assembly on Sunday.

The Comptroller and Auditor General report said the total debt includes Rs 6,949 crore, which was passed on as back-to-back loans by the Centre in lieu of shortfall in GST compensation, during 2021-22.

“Total outstanding guarantees as on 31 March, 2022 were Rs 1,35,283 crore. Government of Telangana amended the FRBM Act in 2020, duly raising the limit of guarantees that it can provide to various institutions to 200 per cent of total revenue receipts of the previous year,” it said.

The CAG report further said the public debt and other liabilities showed an increase of Rs 43,593 crore (16 per cent) in 2021-22 over the previous year.

The public accounts watchdog pegged the said capital expenditure during 2021-22 at Rs 28,874 crore (2.51 per cent of Gross State Domestic Product) but stated that the growth in capex “has not kept pace with the steady growth of GSDP”.