“Untruths are being spread about the financial situation of the AP state. State Government Debt Consolidation as per
F R B M Norms.”
Duvvuri Krishna, Special Secretary,
Finance Department
(Raja Pentapati Beauro Chief)
National News
Amaravati December 19 (Bharat News) AP
By 2023, AP debt will be Rs. 4 lakh crores only.. Finance Department, Special Secretary Duvvuri Krishna RBI, Andhra Pradesh government loans as per Central Government norms Debts increased by 20% annually till 2019. From 2020, it is revealed that there is an increase in debts only by 15.42% annually.
Finance Department, Special Secretary Duvvuri Krishna said that untruths are being propagated about the financial situation of the state and that the state government has collected loans as per FRBM norms. He clarified that all these calculations are confirmed by CAG and RBI. However, he expressed his concern that they are spreading false propaganda about the economic situation of AP. Speaking at a media conference held at the Secretariat Publicity Cell in Amaravati on Tuesday, he explained the financial situation of the state.
According to the RBI report, at the time of state bifurcation (2014), the government debt was Rs. 1,18,050 crore, and by 2019, the debt had increased to Rs.2.71 lakh crore, he said. It has been revealed that by March 2023, AP’s debts have reached Rs.4 lakh crore. He said that while the debt increased by 20 percent every year during the TDP regime, the annual debt increase in this government was only 15.42 percent, that it is not correct to attribute all the loans of AP to the present government. It has been clarified that we are taking loans as per the norms of FRMB. All these calculations are confirmed by CAG and RBI, he said.
The debt of electricity discoms was Rs.2893 crores before bifurcation but increased to Rs.21,541 crores during TDP regime and this debt has reduced to Rs.11,602 crores under this government. He said that the total debts of power companies were 32,596.27 crores at the time of bifurcation but increased to Rs.91,137 crores during the TDP regime.
It is stated that the debts of power distribution companies increased by 30.74 percent in the previous government and decreased by 5.79 percent in this government. He expressed regret that the state government is spreading false propaganda that it is taking unauthorized loans. He questioned how they can make loans against the constitution and against the law. He said that loans will be given subject to central limits and banks will also give loans only if all the rules are followed. He said that the debts of Rs.1,53,346 crores at the time of formation of TDP government increased to Rs.4,12,288 crores by 2019 and TDP incurred debts of Rs.2,58,941 crores in five years. He said that the RBI did not warn that the debt did not increase during the YSRCP government when the debt increased by 7.45% during the TDP regime, why does the RBI warn about the debt now which is less than that at 5.21%.
Bharat News AP
