According to stats released by Reserve Bank of India, Andhra Pradesh has borrowed a sum of 1.94 Lakh Crores and the population of the state is 8.46 Crores. If we divide the debt amount equally to all the citizens, we arrive at 22,938 Rupees per person in Andhra Pradesh. In the last year 2012-13, our debts are placed at 1.69 lakh Crores and the amount is increased by 0.25 Lakh Crores by 2013-14.
According to this figures, Andhra Pradesh is the fourth biggest debt burdened state in the country. Maharashtra, Uttar Pradesh and West Bengal are placed in the first three places. Of the expenditure, 67 per cent is towards development and 12 per cent towards debt service. Which means Andhra Pradesh is spending 12% of its income again to repay the interests or existing loans which is only further aiding to increase in the loans.
