Center Terms AP Financial Situation As ‘Worst’

Union Minister of State for Finance Minister Anurag Thakur in a written reply termed the Financial Position of Andhra Pradesh as ‘Worst’. The Central Government went on to say that the Andhra Pradesh government’s debt-to-GDP ratio is ‘alarming’.

Andhra Pradesh has the highest debt to GDP ratio among all the states at 31.6 percent indicating how Andhra Pradesh Government is running the show with huge loans every month. In the first nine months of this fiscal, the state has borrowed around 40,000 Crore which is massive.

While criticizing Chandrababu Naidu‘s Government for huge debts, it looks like things are even worse under Jagan’s regime if these numbers are anything to go by, experts say. Moreover, a vast majority of these loans are for routine expenses like Salaries and Pensions besides the welfare schemes.

Interestingly, the Center said Telangana has the second-lowest debt to GDP ratio of 17 percent among large States in the country. Maharashtra takes the Top Honour with the lowest debt to GDP ratio of 16.9 percent.