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Andhra Pradesh Takes a New Loan of Rs 10,000 Crores?
By: Tupaki Desk | 7 Sep 2022 10:42 AM GMT
Andhra Pradesh government and debts are a match made in heaven. The state government is going to any extent to get the debts given the weak situation of the economy. The majority of the debts taken by the government go into the welfare schemes covering various communities.
The opposition parties are making a lot of noise about the debts taken by the government and the ruling party is not listening. Forget about the opposition parties, even the union government said Andhra Pradesh is among the states which are taking heavy debts. Despite all this, AP went for fresh debts reportedly.
As per the media reports, the Andhra Pradesh government reportedly took a loan of Rs 1000 crores from the Reserve Bank of India(RBI) by participating in the procedure. The auction reportedly happened the other day. From April 2022 to till date, the government reportedly took a loan of Rs 25,000 crores through security bonds.
Reports also say that half of the amount was taken with a time limit of 18 years while the rest was taken with a time limit of 20 years, which reportedly makes the debts taken by the Andhra Pradesh government from the April of this year to Rs 48,100 crores.
In just five months, the government brought a loan of Rs 37,890, while Rs 390 crores were taken from the NABARD. Besides this, the government got Rs 1,680 crores of debts through EAP from the Centre and the Rs 8,300 crores of debts were taken through the Beverages Corporation in June.
It is known that the Union Government gave permission to the state government to take a loan of Rs 44,574 crores for this financial year. Besides this, the state government was also granted a special benefit to take an additional loan of Rs 4,203 crores if it continues the Contributory Pension Scheme(CPS).
As the CPS system is not canceled in the state yet, there is a high chance for the state government to go for the loan amount of Rs .44574 and if this happens then the government will be an option to take additional loans worth just Rs 677 crores. However, there is also a criticism that the government is not showing the debts it is not listing the debts it took on the name of Beverages Corporation.
Note: Your feedback is very important to us. Post them in the comments box down below. Be sure to give us your opinion no matter what. Please do not use abusive language. There are better ways to speak your mind.
The opposition parties are making a lot of noise about the debts taken by the government and the ruling party is not listening. Forget about the opposition parties, even the union government said Andhra Pradesh is among the states which are taking heavy debts. Despite all this, AP went for fresh debts reportedly.
As per the media reports, the Andhra Pradesh government reportedly took a loan of Rs 1000 crores from the Reserve Bank of India(RBI) by participating in the procedure. The auction reportedly happened the other day. From April 2022 to till date, the government reportedly took a loan of Rs 25,000 crores through security bonds.
Reports also say that half of the amount was taken with a time limit of 18 years while the rest was taken with a time limit of 20 years, which reportedly makes the debts taken by the Andhra Pradesh government from the April of this year to Rs 48,100 crores.
In just five months, the government brought a loan of Rs 37,890, while Rs 390 crores were taken from the NABARD. Besides this, the government got Rs 1,680 crores of debts through EAP from the Centre and the Rs 8,300 crores of debts were taken through the Beverages Corporation in June.
It is known that the Union Government gave permission to the state government to take a loan of Rs 44,574 crores for this financial year. Besides this, the state government was also granted a special benefit to take an additional loan of Rs 4,203 crores if it continues the Contributory Pension Scheme(CPS).
As the CPS system is not canceled in the state yet, there is a high chance for the state government to go for the loan amount of Rs .44574 and if this happens then the government will be an option to take additional loans worth just Rs 677 crores. However, there is also a criticism that the government is not showing the debts it is not listing the debts it took on the name of Beverages Corporation.
Note: Your feedback is very important to us. Post them in the comments box down below. Be sure to give us your opinion no matter what. Please do not use abusive language. There are better ways to speak your mind.
