AP debts 11 Lakh Crs and counting : TDP

The YCP government has taken a loan of Rs 2000 crore once again and this is the 7th time that it had breached the FRBM limits, said Telugu Desam national spokesperson GV Reddy.

The fresh loan will take the total loan taken this year to Rs 63,500 crore. The total loan taken by Andhra Pradesh till now reaches Rs 10,97,000 crore, which means it would soon touch 11 lakh crores in the near future, he said.

“Thousands of crores is being borrowed very frequently but neither is there any development or improvement of infrastructure. In the name of welfare, money is being transferred into accounts of the beneficiaries. There is no generation of funds which in a long run, might prove to be detrimental,” said a senior TDP leader.

Time and again, the Chief Minister speaks of three capitals. While it is so hard to run the day-to-day business in the state, how can three capitals be built? Crores was spent in land pooling and laying of roads in the capital region. When there is a dearth of funds, why should funds spent at Amaravati be allowed to go a waste, asked a Jana Sena activist.

Political analysts expressed concern and said that the YCP government was not able to manage the flow of funds and hence, frequently going for loans, breaching the FRMB limits and taking the state to dire straits.