Center Warns Jagan On Excessive Debt

Article by Satya B Published on: 2:51 pm, 10 July 2021

Central Finance Ministry reportedly gave a strong warning to the YS Jagan-led Andhra Pradesh government for exceeding the suggested debt limit.

The Finance Ministry wrote a letter to Andhra Pradesh finance principle secretary regarding the overdraft.

“The Andhra Pradesh government exceeded the FRBM’s proposed debt limit by Rs 17,000 crores for the previous financial year. The above-mentioned amount will be adjusted in this year’s financial budget. Exceeding the debt limit is against the law,” the letter from Central Finance Ministry read.

Andhra Pradesh PAC chairman Payyavula Keshav released the letter written by the Central Ministry. He asked the Andhra Pradesh government to respond on the same.

Keshav had also asked Andhra Pradesh governor Biswabhusan Harichandan to order audit of state finance department.

Andhra Pradesh government is yet to react to the letter from Central Minister of Finance.

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