AP Has Exceeded Its Debt Limit: Union Fin Ministry

Article by Suman M Published on: 4:00 am, 28 July 2021

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There have been many numerous reports on Andhra Pradesh financial status. The state is going through tough times while the oppositions are blaming the ruling party that the debts are mounting due to the inefficiency in managing the finances.

Making this claim true, Union Minister Of State For Finance Pankaj Chaudhary has stated that AP has exceeded its debt limit. To TDP Rajya Sabha MP Kanakamedala’s question on AP’s financial position, minister Pankaj said that AP has made an excess debt of Rs 4000 crore.

“For the financial year 2020-21, AP government has Rs 54,369 crore revenue deficit and this is acknowledged by the state government in its budget presentation,” stated the written reply from the union minister.

Adding, “As per the 15th Finance Commission recommendations, AP was given the opportunity to borrow Rs 30,305 crore debts and an additional Rs 19,192 crore under Covid provision.”

So when the total is accumulated, the outstanding debts tune up to Rs 49,497 crore and that’s close to Rs 50,000 crore which is a large amount by far and by any means.

What will the YCP government has to say now? Will it still be ignorant of the debts being made? May not be answerable to the oppositions but for the people of AP, definitely YES!

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