The borrowings of Andhra Pradesh are baffling to say the least. The state has become a debt mire so as to fund the welfare schemes. Every day, there is a new record in the loans and every month, it is a struggle to pay even the salaries.
Comptroller Auditor General (CAG) has raised a red flag about AP’s finances. It has noted that the state government has borrowed 19,717 Crore Rupees in the first month of this financial year (April). The state is allowed to borrow 37,079 Crore for the entire year.
That means it has borrowed 53.18% of the borrowings allowed for the year in just one month. At that too, in the first month of the new financial year. Andhra Pradesh has borrowed the highest amount among all the states in the country in April.
The second highest is Kerala which has still borrowed around 5000 Crore Rupees less than Andhra Pradesh. Meanwhile, the senior officials of the finance department have camped in Delhi to arrange money for August salaries and pensions.
