State’s total outstanding liabilities over ₹4.4 lakh crore in 2023: Union Minister

February 07, 2023 08:13 pm | Updated 08:13 pm IST - VIJAYAWADA

Union Minister of State for Finance Pankaj Chaudhary has stated that the total outstanding liabilities of Andhra Pradesh are ₹4,42,442 crore (budget estimates) for the year 2023. 

Replying to an unstarred question by TDP Rajya Sabha member Kanakamedala Ravindra Kumar in the Rajya Sabha on Tuesday, the Minister said the total outstanding liabilities were ₹2,64,451  crore in the year 2019 (the year YSR Congress Party came to power in the State). The liabilities rose to ₹3,07,671 crore in the subsequent year 2020. It further escalated to ₹3,53,021 crore in 2021. The revised estimates for the year 2022 was ₹3,93,718 crore, he said.. The Minister was quoting the Reserve Bank of India (RBI)’s report titled ‘State finances: A study of budgets of 2022-23.’

Reacting to the Union Minister’s reply, the Jana Sena Party (JSP) chief Pawan Kalyan said, rather in a sarcastic way, that development of the State could be ignored as along as Appu Ratna (gem of debt) is Chief Minister of the State. The government was causing hardships to employees and pensioners  by not paying salaries and pensions. The government was paying ₹65 crore per day towards interest on loans and borrowings.  What the Chief Minister was doing with ₹205.759 crore debts per day? This amount was regarding the open market alone. If the loans taken through Corporations were to be considered it would cross ₹500 crore per day. The State government should make the details of loans, income, and expenditure and CAG reports, he added.

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