The center had delayed allowing loans for this fiscal until the real numbers of the loans are furnished.
After many deliberations and calculations, the center has only allowed 28,000 Crore loans limit for the state this financial year.
This has come as a shock to the Jagan Mohan Reddy‘s government.
The state government has sought a whopping 61,000 Crore loans for this year. That means only 45% of what the Jagan government sought.
This will come as a big hindrance for the Jagan government which is running lots of freebies.
During the last fiscal, the state government borrowed 46,443 Crores from the open market.
On those lines, this 28,000 Crore will not be sufficient at all.
With elections just two years to go, it is very important for Jagan to have enough money at his disposal so he can buy voters with freebies.
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