Andhra Pradesh Financial Condition seems to be in a precarious situation. According to the latest report of the CAG, the state had taken another 8,038 Crore in September month alone. In the first six months of the current financial year, Andhra Pradesh amassed new loans close to a whopping 55,189 Crore.
If we estimate the same for the remaining six months of the year. The state is going to have a burden of 1,10,000 Crore loans in just one year. “This is the result of going after mindless populism. Andhra Pradesh will go bankrupt if the situation continues,” a financial expert analyzes the current situation.
The Revenue deficit is a whopping 45,472 Crore. The Revenue deficit at the time of the Bifurcation is just around 16,000 Crore. In comparison, the neighboring states of AP are nowhere near in the loans. Telangana has taken 26,060 Crore, Karnataka 16,078 Crore, Tamil Nadu 31,512 Crore, and Kerala 28,773 Crore in the first six months of the year.
Its high time Jagan Government rethink how he is handling the state finances
