If left to him, Telangana CM KCR appears to be ready to drain the state exchequer to the last drop. At least that is the impression that one gets when one has even a cursory look at KCR's manifesto, which he released on Tuesday. KCR appears to be taking a leaf out of the Congress while making tall and unimplementable promises. He seems to have forgotten the stinging comments that his son KCR made on the Congress for making tall promises. KTR had said that the government will have to pool up the budgets of all the South Indian states to implement the Congress promises.
But, KCR too has gone the Congress way while making promises. He appears to have realized that there is strong and irrefutable anti-incumbancy against his Government. Hence, he too has begun announcing sops. Till yesterday, he did not talk of unemployment. But now, he has announced Rs 3016 per month as pension for the unemployed. But, giving Rs 3016 per month to the unemployed would mean a huge drain on the exchequer. Already, he has to spend Rs 12000 crore on Rythu Bandhu. In the latest manifesto, he announced Rs 10000 per acre, which means,, he has to shell out Rs 15000 crore. The Asara scheme's bar has been brought down to 57 years. This and loan waiver of Rs 1 lakh would been additional burden on the treasury. Where will KCR get all the money?
It does not need knowledge of rocket science to realize that all these funds would have to be pooled up from the general public. This means hiking of taxes exorbitantly. So, expect for a massive rise in taxes and cess in the days to come. If KCR decides not to hike the taxes, then he has to get loans. Even to repay the loans, the Government has to levy taxes. So, expect a double whammy in the days to come.
But, KCR too has gone the Congress way while making promises. He appears to have realized that there is strong and irrefutable anti-incumbancy against his Government. Hence, he too has begun announcing sops. Till yesterday, he did not talk of unemployment. But now, he has announced Rs 3016 per month as pension for the unemployed. But, giving Rs 3016 per month to the unemployed would mean a huge drain on the exchequer. Already, he has to spend Rs 12000 crore on Rythu Bandhu. In the latest manifesto, he announced Rs 10000 per acre, which means,, he has to shell out Rs 15000 crore. The Asara scheme's bar has been brought down to 57 years. This and loan waiver of Rs 1 lakh would been additional burden on the treasury. Where will KCR get all the money?
It does not need knowledge of rocket science to realize that all these funds would have to be pooled up from the general public. This means hiking of taxes exorbitantly. So, expect for a massive rise in taxes and cess in the days to come. If KCR decides not to hike the taxes, then he has to get loans. Even to repay the loans, the Government has to levy taxes. So, expect a double whammy in the days to come.