Andhra Pradesh Debt Reaches Mammoth 8.71 Lakh Crore

Andhra Pradesh Government’s financial situation is so bad and is looking dangerous. By the end of the first six months of this financial year, the debt reached 8.71 Lakh Crores.

The debt accumulated is 49,278 Crores in the first six months of this financial year. Even after this, the state has 1000s of Crores pending to the employees, pending bills to contractors, and there is zero investment on development activities.

Due to pending bills to employees and contractors, officials have to go to courts and in many instances, they have to face contempt of court and non-bailable warrants when even court orders are not implemented.

The pending bills alone is likely to be the tune of 1.5 Lakh Crores approximately. A vast majority of these loans are taken by Jagan Mohan Reddy‘s Government in the three and a half years term so far. It has already crossed what Chandrababu Naidu borrowed in his five years term.

The worst part is most of this money is spent on freebies and not for infrastructure creation or assets or even attracting investments to the state.