The media and the opposition in Andhra Pradesh are surprised at the secrecy associated with CM YS Jaganâs Delhi tour. The whole visit was kept a secret and was not revealed till some 24 hours ago. Now the hot topic for discussion is why the visit was kept such a secret till the last and why did Jagan go in the first place.
Highly placed sources say the chief reason for the visit is the worry about the last quarter of this financial year. The permission for the state government to secure loans has expired and the government can no longer take any loan till the next financial year, which would begin from April 2022. How to tide over the next three months is the biggest worry for YS Jagan.
Sources say that Jagan has gone to plead with the Center to allow it to secure at least Rs 25000 crore of additional loans. Jagan is said to have informed PM Modi that the maximum loan limit was reduced from Rs 42472 crore to Rs 17923 crore citing the provisions of the FRBM act. He said the reduction was due to the loan borrowed by the previous TDP government.
He also requested the Center to release Rs 18000 crore towards the revenue deficit of the state post the bifurcation. He is also said to have requested the Center to pressurize the Telangana state to repay Rs 6000 crore worth of power bill arrears. Thus the whole tour was focused on securing loans for the state to tide over the last quarter of the financial year.
Highly placed sources say the chief reason for the visit is the worry about the last quarter of this financial year. The permission for the state government to secure loans has expired and the government can no longer take any loan till the next financial year, which would begin from April 2022. How to tide over the next three months is the biggest worry for YS Jagan.
Sources say that Jagan has gone to plead with the Center to allow it to secure at least Rs 25000 crore of additional loans. Jagan is said to have informed PM Modi that the maximum loan limit was reduced from Rs 42472 crore to Rs 17923 crore citing the provisions of the FRBM act. He said the reduction was due to the loan borrowed by the previous TDP government.
He also requested the Center to release Rs 18000 crore towards the revenue deficit of the state post the bifurcation. He is also said to have requested the Center to pressurize the Telangana state to repay Rs 6000 crore worth of power bill arrears. Thus the whole tour was focused on securing loans for the state to tide over the last quarter of the financial year.