Andhra Pradesh has been granted an additional borrowing limit of Rs 2,252 crore based on reforms in the ease of doing business (EoDB), a finance ministry statement said. This is an incentive for the state coming first in the EoDB Rankings announced recently.
AP will be allowed to undertake open market borrowings of another Rs 2,252 crore for making the state more investor and business-friendly. It is known to our readers that the Center recently announced EoDB ranking for the year 2018-19. That means the First Rank is achieved during Chandrababu’s rule.
In a way, Chandrababu Naidu has helped Jagan Mohan Reddy Government get this loan. This loan is extremely crucial for the Government since the state has exhausted 97.59% of the loan limit set for an entire year in just five months.
The state is in desperate need of funds as it is not in a position even to foot the bill of salaries and pensions from its own incomes and then, there is a huge list of freebies needing huge funds.
