KCR to Modi: Either give us power or money

Telangana Chief Minister K. Chandrashekhara Rao slammed Centre for not rescuing the states with financial crisis owing to the COVID-19 pandemic.

Addressing the media late Tuesday night, KCR said that the Centre is following wrong policies and the country will have to pay heavy price for that in near future.The state government’s monthly revenue has come down from Rs 17,000 crore to Rs 1,600 crore. To get over the tide, KCR underscored that the Centre either give the states required power or money.

“I clearly told Prime Minister during the video conference. The Centre has broad fiscal policy. It has the powers. Either transfer powers or give us money. You don” have money. You can”t give it. In line with the global policy, I showed him an option but there is no response,” KCR said referring to Rs 10.15 lakh crore Quantitative Easing mooted by him to counter the impending recession.

He added, “What I demanded before Prime Minister. Please increase FRBM limit as loans will be borne by the states and the Centre has to bear nothing. We have loans and I asked for deferment but there is no response. I am surprised what burden this will put on the Centre. What is this policy I am not able to understand.”