Andhra Pradesh Debts Reach 8.3 Lakh Crores

Financial indiscipline seems to be pushing Andhra Pradesh into a debt trap. The debts of the state until 24th June (yesterday) are a whopping 8,29,979 crore.
Andhra Pradesh has inherited a 1,02,667 Crore debut after the bifurcation. Between 2014 and 2019, i.e., in Chandrababu’s regime, another 2,10,086 Crore was borrowed.

As of March 31st, 2019, Andhra Pradesh’s total debt was 3,14,495 Crore.

And then, the mindless populism and financial indiscipline took over, the debt has reached a whopping 8,29,979 crore to date.

That is 2.64 times more than the debt of Andhra Pradesh until Chandrababu‘s regime.

This also includes the outstanding bills to the contract employees, various FDs taken from various institutions, Public account funds taken, Funds drawn from Panchayat accounts, Liquor bonds, etc.

These numbers have been compiled by TDP Spokesperson, GV Reddy from various official sources.

These numbers are very scary and a majority of these funds were spent on the non-productive expenditure of freebies with zero onus on capital expenditure.