TS for raising FRBM limit to 5%

government has urged the Centre at the GST Council meeting to raise the Fiscal Responsibility and Budget Management (FRBM) limit from three to five per cent for borrowing purpose as the States revenue had dipped significantly and its expenditure shot up considerably due to COVID pandemic.

Yet, Telangana was in a better position to borrow because its Fiscal Deficit in the revenues for 2021-22 was expected to touch 23.10% while the aggregate Average of all States put together was pegged at 36.3%.

Mr. Rao sought immediate release of 218 crore due to Telangana from the 13,000 crore deposited to the consolidated fund of Integrated Goods and Services Tax. The deposit to the fund was only 2,638 crore.