Despite cash crunch, T says no cut in welfare schemes funding

Hyderabad : Despite losing Rs 15,000 crore due to reduced borrowings, the TRS government is confident it will not be found wanting in implementation of its welfare schemes.

The government also believes that the state is well equipped to deal with the situation and that there is no need to press the panic button for large-scale mobilisation of funds.

Sources said the government’s assurance comes in the wake of review of reduced loan window caused by the application of Fiscal Responsibility Budget Management (FRBM) rules to guarantees given by it to various state-run corporations.
“We are awared of fund shortage. But that doesn’t mean we will be stopping any welfare scheme for marginalised sections. The government has already announced another 10 lakh pensions on Independence Day,” a senior government official said.