Telangana has not been repaying its share of interest on the loans taken by United Andhra Pradesh.
In all, united Andhra Pradesh had raised loans to the tune of Rs 8,928 crore from different foreign financial institutions and Rs 8,737 crore from the Centre. However, the total Rs 17,665 crore loans have not been divided between the two states in the backdrop of serious objections by both the states.
Telangana’s argument in not repaying its share of the foreign and domestic loans is that the amounts raised were not utilized for the Telangana region.
Moreover, the Telangana government also objected to the distribution of some of the loans on the basis of place of utilization rather the population ratio.
On its part, Telangana has submitted to the accountant general that the loans should be divided on the basis of population by which AP would have to pay 52 per cent and Telangana 48 per cent. This, however, is not acceptable to AP as it is of the view that most of the foreign and domestic loans taken by united AP were for the development of the Hyderabad region.
After bifurcation, AP has paid around Rs 900 crore as interest including Telangana’s share. But numerous appeals to Telangana to repay its share have fallen on deaf years.
Why should AP have to pay Telangana’s share as well? 90% of the loans were used for the development of Hyderabad and KCR is enjoying the revenue of Hyderabad today. But he wants to pay only 48% of the loan’s share.
If he wants to claim ownership over Hyderabad, then he should also take proportionate responsibility for the liabilities incurred during the development of Hyderabad. When will this nuisance in the form of KCR end?
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