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Andhra Pradesh Cannot Go For Fresh Loans!
By: Tupaki Desk | 23 April 2022 9:42 AM GMT
Recently, we have been hearing that the Union Government reportedly decided to keep an eye on the loans and debts taken by the states and plans are underway to bring a system that puts a cap on the debts taken by the states. Once the cap is reached, then the states might face a tough time as far as the finances are concerned.
Amid this backdrop, the Andhra Pradesh government is giving its best in requesting the Union Government to let the state get more loans.AP Finance Minister Buggana Rajendranath is on the same mission and he is currently in the national capital Delhi.
Despite staying in the national capital for one week, the Centre did not listen to what Andhra Pradesh is saying on the debt limit and made it clear that it cannot permit the state from taking more loans, reports say.
After having a disappointing time in Delhi and Union Finance Minister Nirmala Sitharaman not telling any happy news, Principal Finance Secretary SS Rawat returned to Andhra Pradesh. Buggana is likely to spend some more time in Delhi to see if he can request the Centre on the issue.
Given the financial situation of Andhra Pradesh, it is a piece of bad news for the state. It is known that the major share of the borrowings taken by the Andhra Pradesh government goes into welfare schemes covering various communities in the state.
Batting a deaf ear to what the opposition leaders, experts, and former IAS officers are saying, the Andhra Pradesh government is continuing its welfare schemes. A former IAS officer had warned that the state is not going on a good path as far as the money-related issue is concerned. Saying that taking the welfare schemes forward will only make the economy face serious issues, he requested the government to stop this.
As the Union Government had its stand clear that the Andhra Pradesh government cannot go for fresh loans, the flagship welfare schemes implemented by the Andhra Pradesh government led by Chief Minister YS Jagan Mohan Reddy are likely to get postponed and the beneficiaries might have to wait for some more time.
Amid this backdrop, the Andhra Pradesh government is giving its best in requesting the Union Government to let the state get more loans.AP Finance Minister Buggana Rajendranath is on the same mission and he is currently in the national capital Delhi.
Despite staying in the national capital for one week, the Centre did not listen to what Andhra Pradesh is saying on the debt limit and made it clear that it cannot permit the state from taking more loans, reports say.
After having a disappointing time in Delhi and Union Finance Minister Nirmala Sitharaman not telling any happy news, Principal Finance Secretary SS Rawat returned to Andhra Pradesh. Buggana is likely to spend some more time in Delhi to see if he can request the Centre on the issue.
Given the financial situation of Andhra Pradesh, it is a piece of bad news for the state. It is known that the major share of the borrowings taken by the Andhra Pradesh government goes into welfare schemes covering various communities in the state.
Batting a deaf ear to what the opposition leaders, experts, and former IAS officers are saying, the Andhra Pradesh government is continuing its welfare schemes. A former IAS officer had warned that the state is not going on a good path as far as the money-related issue is concerned. Saying that taking the welfare schemes forward will only make the economy face serious issues, he requested the government to stop this.
As the Union Government had its stand clear that the Andhra Pradesh government cannot go for fresh loans, the flagship welfare schemes implemented by the Andhra Pradesh government led by Chief Minister YS Jagan Mohan Reddy are likely to get postponed and the beneficiaries might have to wait for some more time.
