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Andhra Pradesh In Debt Trap?
By: Tupaki Desk | 9 March 2018 2:05 PM GMT
Bifurcation pushed Andhra Pradesh into deep financial crisis. Even the negligence and impractical approach of Rulers complicated the situation since then. Lack of proper income generation and growing expenditure pushed AP into big trouble.
As per the statistics, AP's debt burden will be Rs 2,49,435 crore by the end of financial year 2018-19.
At the time of bifurcation, AP's share in debt is about Rs 70,000 crore. It has increased to almost Rs 2.5 lakh crore in a span of five years.
AP Government has been scouting new ways to obtain more loans than what FRBM Guidelines permit. Already, Cabinet had given consent for obtaining loans for corporations. Diversion of loans from PD Accounts to Government is high on agenda.
Usually, Debts will be compared to GDP and in that sense the situation of AP is getting worse with each passing year - 28.25 percent for 2014-15, 28.50 percent for 2015-16 and 28.79 percent for 2016-17. It's 28.40 for financial year 2017-18 but the happiness won't last for long as estimates show it's gonna be 28.66 percent by the end of financial year 2018-19.
As per the statistics, AP's debt burden will be Rs 2,49,435 crore by the end of financial year 2018-19.
At the time of bifurcation, AP's share in debt is about Rs 70,000 crore. It has increased to almost Rs 2.5 lakh crore in a span of five years.
AP Government has been scouting new ways to obtain more loans than what FRBM Guidelines permit. Already, Cabinet had given consent for obtaining loans for corporations. Diversion of loans from PD Accounts to Government is high on agenda.
Usually, Debts will be compared to GDP and in that sense the situation of AP is getting worse with each passing year - 28.25 percent for 2014-15, 28.50 percent for 2015-16 and 28.79 percent for 2016-17. It's 28.40 for financial year 2017-18 but the happiness won't last for long as estimates show it's gonna be 28.66 percent by the end of financial year 2018-19.
