AP Debts At Rs 4,42,442 Crore: Centre

The government of India announced in the Parliament that the Andhra Pradesh debts have increased by two folds after 2019. TDP MP Kanakamedala Ravindra Kumar asked the Union Finance ministry about the details of AP debts and Pankaj Choudhary, Union Minister Of State For Finance listed out the details.

“In 2019, AP debts were Rs 2,64,451 crore and in 2020, the debts have gone up to Rs 3,07,671 crore. The debts have further gone up in 2021 and 2022 with Rs 3,53,021 crore and Rs 3,93,718 crore respectively. Currently the outstanding debt is Rs 4,42,442 crore,” replied minister Pankaj Choudhary to TDP MP’s query.

The Union minister further added that every year, the AP government is making Rs 45,000 crore. For the financial year 2022-2023, the AP government borrowed Rs 6172 crore every month on an average. In the first nine months of the same year, AP government exceeded the FRMB limits and borrowed Rs 55,555 crore.

However the state government is in absolute denial of these facts. “In the last three years, the AP government has incurred debts worth Rs 1,34,453 crore,” said the AP finance department. Yet the state government is finding it tough to pay salaries to employees on time.