Hyderabad: Telangana Finance Minister Bhatti Vikramarka Mallu met Union Finance Minister Nirmala Sitharaman in New Delhi on Wednesday to request 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 provided under this scheme, which have supported the state's development initiatives.
During the meeting, Mallu highlighted Telangana's rapid development but noted the financial strain caused by debts incurred through Special Purpose Vehicles (SPVs) from 2014 to 2023. Despite these challenges, 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, as they represent long-term capital investments, particularly for the empowerment of SCs, STs, BCs, and minorities.
The finance minister emphasized the government's commitment to providing world-class education through initiatives such as the “Young India Integrated Residential Schools (YIIRS)”. He 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, the state is establishing new medical colleges and expanding rural health services.
Mallu also thanked the central government 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 government would accelerate the state’s development.
About the Author: Sribala Vadlapatla is a Senior Assistant Editor with 15 years of experience at The Times of India and 30 years overall in mainstream and web journalism. She covers Telangana's political, economic, health, technological, and socio-cultural topics, and is deeply interested in policy, governance, emerging technologies, international affairs, economy, and music.
