In his inaugural Independence Day speech from the historic Golconda Fort, Telangana Chief Minister A. Revanth Reddy sharply criticized the previous BRS-led administration, accusing it of devastating the state’s economy over the past decade. Reddy stated that under BRS rule, the state’s debt had skyrocketed from Rs 75,577 crore at Telangana’s inception to a staggering Rs 7 lakh crore by December of the previous year.

Reddy announced that his government is seeking financial aid from the World Bank to help restructure the state’s finances. During a recent visit to the United States, he and his team engaged in productive discussions with World Bank representatives, securing a commitment for low-interest loans aimed at state development. The Chief Minister emphasized that his administration is determined to avoid the high-interest borrowing practices of the past, which he believes unduly burdened the people.

Revanth Reddy assured citizens that his government is actively working to address the financial challenges while also fulfilling campaign promises, including the Abhayahastham initiative designed to enhance family welfare. He described his government’s focus on economic revitalization and its dedication to aligning with the public’s needs and expectations.

Highlighting a renewed commitment to democracy and transparency, Reddy declared that Telangana was effectively “liberated” on December 3, 2023, following the Congress party’s election victory. He claimed that this marked the first time the state is experiencing a truly democratic government that prioritizes public input and rectifies any mistakes with openness and accountability.

In his address, Reddy reassured the public that despite financial constraints and some criticism, his administration is committed to ethical governance and maintaining restraint in the face of unfounded allegations. His speech reflected a commitment to improving state governance and rebuilding Telangana’s economic stability with a focus on public welfare.