Comptroller Auditor General’s (CAG) latest report has painted a very grim picture of Andhra Pradesh’s finances. The country leads all the states in the country by going for the highest quantum of loans in the eleven months of this financial year.
The state has borrowed 79,191 Crore until February which is the highest in the country. This is 63.97% more than the estimated borrowings in the budget. On average, the state has borrowed 7,199 Crore per month.
The state government cites the pandemic effect but then the revenues of the state this year are more or less the same as the last year. Interestingly, the state has earned 71,699 Crore during the same period which means the borrowings have exceeded the revenues.
Five of the fourteen big states in the country have registered a fall in the revenues more than Andhra Pradesh. They managed only 60% of their estimated revenues but still still managed to keep their borrowings less than Andhra Pradesh. Telangana is fourth in borrowings in the country.