According to reports, the state of andhra pradesh is the best in the country. But not for the right reasons. It's for the wrong reasons. It owes money. andhra pradesh ranked first in debts, according to CAG data. From april to september 2022, the state borrowed Rs 49,263.34 crore.
The state recommended borrowing Rs 48,724.12 crore for the entire fiscal year in the FY 22-23 budget. In contrast, the state exceeded the total year's proposed loans within six months. This is astonishing. bihar was ranked second in terms of debt, having borrowed Rs 30,407.14 crore as of september 22.
The gap between andhra pradesh and bihar, which ranked first and second in debt, is vast and in no way comparable. West Bengal, which ranked third in debt, received loans of Rs 26,972 crore, about half of AP's total debt. The difference is enormous. This is sufficient to explain how ap became indebted. Only ap and bihar have consumed and surpassed the entire debts proposed in their budgets for the year.
Financial analysts have been fuming about AP's financial situation and the state's huge loan accumulation. Despite multiple red lights raised by economists, the state government remains unaffected and unconcerned. rajasthan is ranked fourth, having received loans totaling Rs 22,678.14 crore as of september 22. telangana ranked fifth, with debts of Rs 21,173.23 crore. kerala was followed by Uttar Pradesh (Rs 15,490.55 Cr), madhya pradesh (Rs 14,305.78 Cr), haryana (Rs 12,682.25 Cr), and punjab (Rs 12,682.25 Cr).
Gujarat and karnataka have the lowest debts on the list, with Rs 1549.61 Crore and Rs 1685.58 Crore, respectively. Overall, ap got the unsavoury reputation of being number one in debts accumulated within the first six months of the fiscal year 22-23. The state's economy is going crazy in the name of providing freebies and social welfare programmes. The question is whether the citizens of the state are aware of it. Will the Centre step in?
The state recommended borrowing Rs 48,724.12 crore for the entire fiscal year in the FY 22-23 budget. In contrast, the state exceeded the total year's proposed loans within six months. This is astonishing. bihar was ranked second in terms of debt, having borrowed Rs 30,407.14 crore as of september 22.
The gap between andhra pradesh and bihar, which ranked first and second in debt, is vast and in no way comparable. West Bengal, which ranked third in debt, received loans of Rs 26,972 crore, about half of AP's total debt. The difference is enormous. This is sufficient to explain how ap became indebted. Only ap and bihar have consumed and surpassed the entire debts proposed in their budgets for the year.
Financial analysts have been fuming about AP's financial situation and the state's huge loan accumulation. Despite multiple red lights raised by economists, the state government remains unaffected and unconcerned. rajasthan is ranked fourth, having received loans totaling Rs 22,678.14 crore as of september 22. telangana ranked fifth, with debts of Rs 21,173.23 crore. kerala was followed by Uttar Pradesh (Rs 15,490.55 Cr), madhya pradesh (Rs 14,305.78 Cr), haryana (Rs 12,682.25 Cr), and punjab (Rs 12,682.25 Cr).
Gujarat and karnataka have the lowest debts on the list, with Rs 1549.61 Crore and Rs 1685.58 Crore, respectively. Overall, ap got the unsavoury reputation of being number one in debts accumulated within the first six months of the fiscal year 22-23. The state's economy is going crazy in the name of providing freebies and social welfare programmes. The question is whether the citizens of the state are aware of it. Will the Centre step in?
