Andhra Pradesh's total debt reaches Rs 7.77 lakh croresApril 20, 2022 14:52
Andhra Pradesh's total debt reaches Rs 7.77 lakh crores:- Andhra Pradesh government is steering with the financial crunch and is running out of debts. There are no new investments coming for the state. The government of Andhra Pradesh has been offering freebies which are leaving the state in huge stress. As per the recent report, five Indian states: Punjab, Andhra Pradesh, Rajasthan, Bihar and Uttar Pradesh are in huge stress. As per the experts, the total debt of Andhra Pradesh is close to Rs 7.77 lakh crores by the end of this year. The government stopped repaying the loans from the past three years and the bills are kept pending for all the contract works done in the state.
If the financial discipline is not maintained and the freebies are not stopped, Andhra Pradesh will end up as one more Sri Lanka very soon. Several experts have warned the state about the same but YS Jagan and his government continued the same system that they are following for now. The Centre also warned about the debts after the state failed to repay the yearly loans. The opposition parties slammed YS Jagan's government for their policies. The state is battling with power crisis and there are power cuts across the state for 6-8 hours in a day. Indian Prime Minister Narendra Modi chaired a meeting with the Secretaries recently after which the officials submitted the detailed reports about the debts of the Indian states.