Hyderabad, Sept 10 (Reporter) Telangana Chief Minister A Revanth Reddy on Tuesday requested the 16th Finance Commission to give options to either restructure debt or offer additional assistance to overcome the huge challenges facing the state. Despite strong advantages, and a good economy, we are facing huge challenges due to the heavy burden of debt, which now stands at over Rs. 6.85 lakh crore, as of the end of last financial year, said Reddy in the commission’s meeting held at Praja Bhavan here. This includes both budgeted and off-budget borrowings, the CM said that large loans borrowed in the last 10 years (during the BRS govt) have now created a situation where a significant part of our revenues is used just to repay debt, he pointed out. If we don’t manage our loans and interest payment it will slow down the state's progress, he said and requested the commission to help in addressing these problems. “I also strongly place my demand and I speak for all States on this increase allocation of central funds to states from 41 percent to 50 percent”, he said “ I promise you, if you can do this, I will take a huge responsibility of Prime Minister Narendra Modi’s vision to make India a 5 trillion dollar economy. We are happy Telangana is an economically growing, rapidly transforming state, which contributed a lot to our Country, Reddy said ‘ I will make Telangana a 1 trillion economy”. We can in turn Help India become the third largest Economy in the world if the commission helps Telangana, he said that we look forward to your support in strengthening ‘fiscal federalism’. “I am confident that the Commission’s recommendations will help Telangana overcome its current challenges”, the CM added...////...