Andhra Pradesh‘s financial situation is getting worse day by day. The Government has borrowed more than 58,000 Crore in the nine months of this financial year so far. The Revenue deficit is scary with more than 900%.
The Revenue income has fallen while Revenue expenditure is increasing. Until December-end, the Revenue deficit is 45,907.65 Crore. This is 918.14% more than the estimate. The Revenue deficit at the same time last year is only 270%.
Along with the Central income of 25,246.19 Crore, the total revenue income for this period is 97.887.21 Crore. In the first nine months, the government has borrowed 58,111.85 Crore. In the budget, the government estimated only 37,029.79 Crore loans for the entire year.
Interestingly, there is not much gap between the loans and the own income of the state. The state has got revenue of 69,943.71 Crore while the loans are 58,111.85 Crore. The majority of this expenditure is towards freebies with low spending on capital infrastructure i.e., the expenditure on long-term assets and infrastructure. That means all this expenditure will have no returns for the future.