Hyderabad: Telangana finance minister Bhatti Vikramarka Mallu on Wednesday requested Union finance minister Nirmala Sitharaman for an additional financial assistance of ₹5,000 crore under the “Scheme for Special Assistance to States for Capital Investment (SASCI)”. He expressed gratitude for the interest-free loans that the central govt has provided under this scheme. He met the Union finance minister in New Delhi to discuss the state’s development needs, including significant investments in education and capital expenditures.He told the Union minister that despite Telangana’s rapid development, financial strain was being caused by debts incurred through Special Purpose Vehicles (SPVs) from 2014 to 2023. Nonetheless, he added that the state continues to invest heavily in education, healthcare, rural infrastructure, and human resource development. He requested that loans for projects permitted by the Centre that receive external aid be exempted from the state’s Fiscal Responsibility and Budget Management (FRBM) limits, since they represent long-term capital investments, especially in the empowerment of SCs, STs, BCs, and minorities.He emphasised the govt’s commitment to providing world-class education through initiatives such as the “Young India Integrated Residential Schools (YIIRS),” alongside the establishment of new medical colleges and the expansion of rural health services. The deputy chief minister also outlined a substantial plan for educational investments totaling ₹30,000 crore, which includes the construction of 105 YIIRS campuses and the development of junior colleges, degree colleges, and technical institutions.Additionally, he thanked the central govt for approving projects with the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) aimed at upgrading educational infrastructure.He concluded that Telangana’s investments in education and infrastructure are crucial for achieving the goal of a “Developed India by 2047,” and that adequate support from the central govt would accelerate the state’s development.
