The Comptroller and Auditor General of India (CAG) in its latest accounts revealed that Andhra Pradesh gross debt burden has increased to Rs 3,73,140 crore by the end of November 2020.
According to the CAG reported, the Andhra Pradesh government has borrowed Rs 73,811.85 crore from April to November 2020 which is against the annual target of Rs 48,295.59 crore for the whole year. The revenue deficit shot up to Rs 57,925.47 crore by the end of November 2020 and in the same month the state government borrowed Rs 13,001 crore.
When AP was bifurcated, the state had debts worth Rs 97,000 crore and when the TDP lost the power, the debts were at Rs 2,58,928 crore. After YS Jagan became the CM, the YCP government made debts worth Rs 1,06,866.25 crore in the last 18 to 19 months.
Now the YCP government is waiting for another Rs 3000 crore loan from SBI so that it would allocate to Amma Vodi scheme. Under this scheme, the state government will deposit Rs 15,000 in over 43 lakh mothers’ bank accounts. The twist in this scheme is, the YCP government will deposit only Rs 14,000 while the rest Rs 1,000 will be deducted towards Toilet Development Fund.
Overall, the CAG opined that AP’s financial status is worrisome and it is mainly attributed towards the freebies offered by the state government.