Allow Us To Take More Loans: AP Govt Urges Centre

Sun Dec 08 2019 15:54:49 GMT+0530 (IST)

Polls Sops implemented by the YCP Government such as YSR Rythu Bharosa and Amma Vodi are a huge burden on the state exchequer. Other freebies announced for different sections of the society has been making State Government borrow more loans.

In the current financial year, AP Government took loans to the tune of Rs 33, 617 crore. As much as Rs 8,513 crore were borrowed in the month of November alone. For the remaining four months of this financial year, State Government can only borrow around Rs 3,000 crore as per the rules.

Taking into account the need for more financial resources to function smoothly, AP Government has written to the Centre seeking relaxation of FRBM Norms so that another Rs 15,000 crore can be borrowed in the current financial year.

BJP-led NDA Government mayn't be in favour of the YCP Government in AP if the recent developments are any indication. In that case, Will Centre accept the appeal made by Jagan sarcar? If there was no positive response, AP Government will find it difficult to pay even salaries for the employees in the coming months.