Hyderabad: CM A Revanth Reddy Considers Austerity Drive to Curb Fiscal Deficit
Hyderabad: Telangana Chief Minister Revanth Reddy is thinking about a money-saving plan to fix the state’s money issues. The state is spending a lot more than it’s earning, and this is causing worries about its financial health.
Sources close to the Chief Minister’s Office say that Reddy is considering a few steps to spend less money. These might include:
1. No new hires: They might stop hiring new people for government jobs for a while, except for really important roles. This would help save money on salaries and other costs.
2. Spending less on daily costs: They are thinking about reviewing and cutting down on spending for things like office supplies, travel, and other everyday costs to save money.
3. Changing project funds: They might focus more on important projects and rethink the money allocated to ongoing plans. This way, they could have more funds for urgent needs.
4. Using less energy: They are thinking about using less electricity in government buildings and offices to save money and help the environment.
5. Making more money: They want to explore ways to get more income, like changing taxes, improving how they collect taxes, and getting private businesses to invest in the state.
The details of this money-saving plan are still being worked out. The Chief Minister will talk to important people, including finance experts, department leaders, and opposition leaders, before deciding what to do. Some people think this plan is good to make sure the state’s money is okay, but others are worried it might affect public services and jobs.
The Telangana government’s money problems have been getting worse, and now it’s estimated that they’re spending more than they should. Economists and experts are telling the state to do something about it. If this money-saving plan works well, it could help Telangana spend less and get its finances in better shape. But we’ll have to wait and see how it goes and how it might affect the state and its people in the long run.
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