AP’s Borrowings Doubled Compared To 2019!

Tue Feb 07 2023 19:41:19 GMT+0530 (India Standard Time)

The Union Government shocked everyone by revealing the details of borrowing Andhra Pradesh took as of now. Though everyone knows Andhra Pradesh is taking borrowings in big numbers, the current government surpassed the previous government. As per the information, the borrowings YCP took doubled.

Minister of State for Finance Pankaj Chaudhary in a reply to the question raised by Telugu Desam Party Rajya Sabha member Kanakamedala Ravindra Kumar said that the debts of Andhra Pradesh reached 44,2442 Crores. The Union Minister said that the debts doubles compared to the previous govt and the debts are increasing every year.

Having said that the debts reached 4,42,442 Crores, the Union Minister said that the debts are only the numbers mentioned in the budget and the borrowings the state government took in other ways like Corporations and others would be more. He said that the borrowings of the state doubled compared to 2019.

Taking borrowings is not wrong and every state goes for borrowings. But what the state government does with the borrowings is the question. The ruling party in the state is banking heavily on welfare schemes and openly projected that. People need welfare but what about development?

When the state was bifurcated the economy was in debt and the borrowings taken by the previous government added pressure on the economy. The previous government built a few structures like the High Court building and quarters for the employees and other officials.

But the YCP is only focusing on welfare schemes and is believing that the schemes will bring the party to power again. From Chief Minister to Cabinet Ministers to MLAs everyone is saying the same.