Harish Rao shares Forbes data to counter Congress claims on Telangana's debts

HYDERABAD: BRS leader and former Finance Minister T Harish Rao accused the Congress government of attempting to tarnish the image of the previous KCR regime by calling Telangana a debt-ridden State.

While sharing a report by Forbes India titled "Debt to GDP ratio of Indian States" on the micro-blogging site 'X' on Thursday, Harish Rao claimed that Telangana's debt to GSDP ratio was among the lowest five states of India and stood at 23.8.

"Congress Government's white paper is proved to be a deliberate attempt to tarnish the image of 10 years of KCR regime as per recent Forbes report. The BJP, social media, media and YouTubers' claims that Telangana is under debt has been proved to be fake," Harish Rao said in his post on 'X'. 

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According to the statistics published by Forbes India, during the fiscal year 2023-24, Telangana managed its debt prudently, with a debt-to-GDP ratio of 23.8 percent. This ratio showed how well the state could manage its debt and economic output. Telangana's Gross State Domestic Product (GSDP) was Rs 14 lakh crore during the same period.

Telangana's lower debt-to-GDP ratio reflects sound financial practices that uphold responsible fiscal management. States must balance economic growth and debt sustainability to ensure long-term financial stability.