Hyderabad: The Telangana government is considering mobilising resources after the Union finance ministry denied permission to raise market borrowings. The government issued a directive a few days ago to obtain information on fixed deposits from various government departments.
Though it is unclear whether the government intends to use these deposits, the finance department has requested information on fixed deposits from many departments within banks. This is significant, especially since the state government has yet to obtain permission to borrow from the market. The departments were asked to provide information on savings, current accounts, and fixed deposits. The GO issued a few days ago also directed departments not to make any additional fixed deposits without the knowledge of higher-level officials.
This story is from the May 17, 2022 edition of The Times of India Hyderabad.
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This story is from the May 17, 2022 edition of The Times of India Hyderabad.
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