AP Government’s Debt Reaching Five Lakh Crore Rupees

Andhra Pradesh Government is getting to the quagmire of debts. The debts of the state is getting close to Five Lakh Crores Rupees. This also includes the debt taken through corporations. Government has given guarantee for these debts.

The corporations have no income and so the state government should naturally repay them. A majority of this debt has been accumulated ever since YS Jagan Mohan Reddy Government came to power in 2019.

The situation will be very soon as such the Government will have to pay half of his monthly income towards interest payments and repayments. We have already seen the state government struggling to pay salaries and pensions to its employees every month.

Some of these payments are going into the third week of every month. Mindless populism has resulted in this situation and it will become worse if not controlled at least now.