Emphasising the need to maintain a mutual respect between the Union government and the state governments under the federal structure, Telangana Chief Minister A Revanth Reddy on Saturday said that the country will not progress without the development of the states. The Chief Minister stated this during a meeting with S Mahendra Dev, the Chairman of the Economic Advisory Council to the Prime Minister.
Over the past two years, the Chief Minister has made several trips to Delhi to procure central funds for the state, but to date, the Union government has not sanctioned any big project, including the second phase of the Hyderabad Metro. During the meeting on Saturday, Reddy reminded the Centre that the country will not progress without the development of the states.
He expressed serious concern over the increased burden of payment due to the high interest rates on loans borrowed by the previous BRS government. He admitted that it had become a huge problem for his government since the repayment of loans also impeded the state’s development.
He brought to the notice of the chairman of the Advisory Council that all the revenue generated by the state was being spent only on the payment of loans, even though the government was making serious efforts to reduce the mounting high interest rates on the state exchequer.
The Chief Minister also explained the initiatives taken by the government to create better infrastructure in all urban areas, including Hyderabad. Reddy pointed out the importance of the construction of the Regional Ring Road around Hyderabad and radial roads to connect the Ring Road.