Andhra Pradesh Government is setting new records in borrowings. The government had borrowed a whopping 30,000 Crore in the first three months of this financial year.
The government raises revenues worth 12 Crore Rupees per month and borrows 10,000 Crore additionally.
That means the government had spent around 66,000 Crore in three months.
Most of this is for salaries, pensions, and freebies. With very minimal spending on capital expenditure i.e., infrastructure creation.
Union government had allowed 28,000 Crore loans for this entire year but Andhra Pradesh already crossed 30,000 Crore.
The government is not showing 8,300 Crore raised through liquor bonds in this head.
Even without that, the limit will be breached in a month or two.
The state government had intensified its efforts to get the loans limit increased from 30,000 Crore to 61,000 Crore.