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BJP leader Lanka Dinakar on Saturday said the State debt would soon reach ₹10 lakh crore on the back of an alarming rise in the revenue and fiscal deficits in the first two months of the current FY 2022-23 as per the Comptroller & Auditor General’s key indicators.
He observed in a press release that the revenue deficit registered a 128.7% surge from about ₹17,000 crore to ₹21,000-plus crore in just the month of May, 2022. Fiscal deficit for the year was estimated to be approximately ₹49,000 crore but it has already touched ₹22,000 crore.
Mr. Dinakar said the government had miserably failed in increasing the capital expenditure. As a consequence, there had been no significant rise in income while the overall debt kept mounting. The Central government was inquiring into the additional debt brought in the name of the State Development Corporation and AP State Beverages Corporation, he added.