#APDebts: Not Possible For More Debts, Tells Centre

The government of India listed out the borrowings of AP government in Parliament and added that for the current financial year, AP has already taken half of the allotment. TDP MP Kanakamedala Ravindra Kumar asked the details of AP debts from the Union Finance Ministry. In reply Minister of State for Finance, Pankaj Chaudhary revealed noteworthy details.

“For the year 2022-23, the government of India has permitted AP to borrow Rs 44,574 crore. For the first nine months, AP can borrow Rs 40,803 crore but within the first three months, the state government has taken more than half of the allotted amount. Loans worth Rs 21,890 crore have been taken by AP government till April,” informed the Union Minister to the TDP MP.

Besides this the AP government has taken an additional loan of Rs 1373.47 crore from the government of India. But the Union minister did not reveal whether the loan falls under its (loan) limitations. The Union minister added that wherever there is a possibility of loan, AP government left no opportunity and that’s noticeable.

On Monday Union Minister of Finance Nirmala Sitharaman stated that the total outstanding debt of Andhra Pradesh by the end of 2021 financial year was more than Rs 3.60 lakh crore and it is estimated to cross the Rs 3.98 lakh crore by March 2022. This means the fresh loans are not related to the latest borrowings.