RBI Report: Telangana Bad, Andhra Pradesh Worst

RBI‘s monthly report has revealed that the Telugu states ran their economic affairs dependent on ways and means for 31 days in the month of May.

In that month, the Andhra Pradesh government said that it used Rs.713.3 crore under the Special Drawing Facility for 31 days, Rs.2,041 crore under ways and means, and Rs.1,952.02 crore under Overdraft for 20 days.

At the same time, the Telangana government said that it has utilized Rs.711.65 crore under SDF for 31 days, Rs 1,295.52 crore under ways and means, and Rs.912.98 crore under overdraft for 18 days.

Except for Manipur, none of the other states in the country have used these three facilities for so many days in a single month.

In May, the Andhra Pradesh government borrowed Rs 7,390 crore from the open market. The report said that a loan of Rs.11,390 crore was taken in the first two months of the financial year 2022-23.

At the same time, Telangana could not even take a paisa loan. As the central government delayed in fixing the Telangana debt limit, the state had to rely on SDF, OD, and ways and means.

As a result, Telangana owed RBI Rs.1,365 crore at the end of May.

Andhra Pradesh has a 25.42% share of the total debt of Rs.44,790 crore (of all states) as of May.