Nearly 200 IAS officers have so far submitted their representations to Cabinet secretary, airing serious concerns over the reported move.
Over the last 16 months, Telangana is believed to have tied up Rs 51,000 crore in borrowings, adding to its Rs 80,000-crore debt burden.
"Parties and elements that were opposing the Land Acquisition Act should realise that one cannot achieve progress without building projects on land."
The Telangana government, which is looking to attract investments by promising a stable environment, finds itself between a rock and a hard place.
Bureaucrats of both states told ET more disputes are likely to unfold, given the complicated nature of the division of assets and liabilities between them.
In a bid to reduce rupee debt, L&T Hyderabad Metro Rail is engaged in discussions with a Chinese bank to raise up to $ 180 million.
Lanco Infratech has temporarily shelved asset disposal plans but would sell at least 3,000MW of power assets in FY18 fetching an enterprise valuation of Rs 25,000 crore to help retire a debt of around Rs 18,000 crore.
In a respite for cashstrapped Lanco Infratech, three groups of lenders approved cost overruns of almost 30 per cent for four power projects.
"The farmers are yet to receive last season’s dues of Rs 27.5 crore and the area under cultivation has come down significantly over a period."
"Now that we have excelled in rankings among the Indian states, the idea is to look at competing with developed economies in the region," he told ET.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon