Andhra Pradesh Fourth in States with Highest Loans

YS Jagan - Andhra Pradesh LoansAndhra Pradesh seems to be getting into a debt trap. The state is ranked fourth in the country when it comes to mobilizing loans from open markets. This is for the period April to December 2020, wherein AP has gone for a whopping 44,250 Crores.

Telangana is ranked sixth on the list with 36,354 Crores. If observe the first three, they are cash-rich states like Maharashtra and Tamil Nadu which are big-budget states, and their borrowings are well within their fiscal limits. Andhra Pradesh is in the red zone.

These are the numbers revealed by the Reserve Bank of India (RBI). In December, the government used Special Drawing Facility for 30 days, Ways and means for 26 days, and Overdraft facility for three days. All this means nothing but fiscal indiscipline and massive loans.

In the 2019-20 Budget, the first year in Jagan’s Government, the revenue shortfall of the financial year 2018-19 i.e. the last year of Chandrababu Government – stood at 11,654 Crore. In less than two years, the shortfall has increased to 54065 crores which means it has increased five times. Very soon, Andhra Pradesh will inch towards financial bankruptcy if the Jagan Government does not wake up at least now.

Follow Mirchi9 on Google News

This Week Releases on OTT – Check ‘Rating’ Filter

Hiring Content Writer: We are looking to hire a ‘Telugu’ content writer. Send your sample articles to [email protected]

Inside Story: Who Prepared Pawan Kalyan's Speech?Don't MissInside Story: Who Prepared Pawan Kalyan's Speech?We media usually address Pawan Kalyan as Powerstar while writing film news and as Janasena...Rana NaiduDon't MissVenkatesh And Rana Together For Netflix Web SeriesThe dream of Daggubati fans has finally come true as Rana and Venkatesh Daggubati are...Love Story All set For Record-Breaking Openings!Don't MissLove Story All set For Record-Breaking Openings!Love Story starring Naga Chaitanya and Sai Pallavi is undoubtedly the biggest Telugu release post...List of New Title Premiering On OTT September 2021 Last WeekDon't MissList Of New Titles Premiering On OTT This WeekHere is the list of new titles premiering on top OTT platforms like Netflix, Amazon...Three Different Targets For Love Story TrioDon't MissThree Different Targets For Love Story TrioNaga Chaitanya and Sai Pallavi starrer Love Story is all set to hit the silver...