Fact Check: CBN Borrowed 2.65 Lakh Cr, Jagan Borrowed 7.14 Lakh Cr

There is a lot of backlash on the YCP government in Andhra Pradesh for its excessive loans that are greatly troubling the state finances. Now, BJP bigwig Daggubati Purandeshwari commented about the same.

“By the time the TDP government got down in Andhra Pradesh, the state had Rs 3.62 lakh crores loans. The TDP government took Rs 2.65 lakh crores in loans in 5 years. And then the YCP government took over. And as of 18 July, 2023, AP has 10.65 lakh crores loan” Purandeshwari said.

The BJP veteran added that the YCP government took loans to the tune of Rs 7.14 lakh crores in its 4-year tenure.

“The YCP government took Rs 2.39 lakh crores loans from the Reserve bank. These are regarded as official loan. The government then took Rs 4.74 lakh crore loans unofficially from other sources. These loans are curbing the progress of the state.”

Purandeshwari added that the AP government is paying 40% of its income just as interest for the loans and borrowings, meaning there are very few funds for the development.