New Telangana CM Revanth Reddy has to deliver six 'guarantees': How much would they cost state exchequer

Telangana PCC President A Revanth Reddy, who is set to take over the reins of the state from Thursday after beating K Chandrasekha Rao-led Bharat Rashtra Samithi (BRS) in recent assembly polls, has a massive task on his hands. 

Now, he faces the onerous task of fulfilling the “six guarantees” that the Congress party gave during the run up to polls. Even though Congress romped home because of these guarantees, finding funds for them are easier said than done. 

The most attractive among the “six” is free travel for women in Telangana State Road Transport Corporation buses.

Sources in the state government told PTI that according to a rough estimate, the RTC earns Rs 2,500 crore annually through women passengers. If the scheme is to be implemented, the Congress dispensation will have to replenish the same amount to the corporation, which is reeling under accumulated losses of Rs 6,000 crore.

Congress promised to waive up to Rs two lakh farm loan. The BRS government had budgeted Rs 21,000 lakh crore to waive up to Rs one lakh. As per the calculation, the Congress government needs to allot at least 35,000 lakh crore for the next five years to implement the farm loan waiver.

According to the state government statistics, as many as 42 lakh farmers were identified as beneficiaries during the previous regime for the crop loan waiver.

Similarly the grand old party promised to give Rs 15,000 to farmers and Rs 12,000 to farm workers under the "Rythu Bharosa" guarantee scheme per acre annually.

Under the BRS government’s Rythu Bandhu, farmers were paid Rs 10,000 annually.

The previous BRS government has paid Rs 72,000 crore under a similar scheme as Rythu Bandhu during the past five and half years, with 70 lakh farmers benefitting. The latest installment could not be released due to poll code.

If the Congress party has to implement its scheme under similar parameters, it needs nearly Rs one lakh crore in the next five years, reported PTI on Wednesday

Congress is forming the government after getting 64 seats in the November 30 polls. BRS won 39, BJP-8, MIM-7 and CPI-1.

According to the Telangana budget 2023-24, the total revenue was pegged at 2.16 lakh crore while the revenue expenditure was at 2.12 lakh crore.

Telangana’s outstanding public debt is estimated to be Rs 3,57,059 crore, according to the Budget estimates 2023-24 which is 23.8 per cent of GSDP.

Congress leaders Sonia Gandhi, Rahul Gandhi and Priyanka Gandhi Vadra will attend Revanth Reddy's swearing-in ceremony as the chief minister of Telangana, sources told India Today on Wednesday. 

With inputs from PTI