Andhra Pradesh government has been trying its level best to avoid revealing the actual financial condition of the state.
It has tried innovative ideas like keeping future incomes as collateral, escrowing additional excise retail tax revenues, etc.
But experts and the central government clearly said these are unconstitutional.
In a fear of not allowing new loans, the Jagan government is not revealing the actual numbers of loans even in the budget.
The central government has taken a serious view of that and asked all the states in the country to reveal their loans in a prescribed format.
The finance department officials have worked on it for two weeks and finally sent the details two days ago. Sources say that it is not possible to hide the actuals now.
The central government has stopped approving loans for 2022-23 until these details are furnished and checked.
So, it looks like the best-kept secret of Jagan is going to be revealed finally.
If the center does not yield to political pressures, it may become very difficult for Andhra Pradesh to get loans in the future.
At the same time, the state is not in a position even to pay salaries and pensions without loans. So coming days are likely to be serious.
