Andhra Pradesh Headings Towards 10 Lakh Crores Total Debt Soon

As per the CAG monthly key indicators up to May 2022, the revenue deficit and fiscal deficit have reached Hilltop in the first two months of the current fiscal year 2022-23 due to inefficient governance in the state of Andhra Pradesh by YS Jagan Mohan Reddy led YSRCP Government.

 

In the current financial year, the revenue deficit was estimated at 17.04 thousand crores, but within the month of May, it reached 128.70% i.e. 21.92 thousand crores. Apart from this, the fiscal deficit was estimated at 48.72 thousand crores for whole year, but within the month of May, it reached 47.12% i.e. 22.96 thousand crores. In these circumstances, it is difficult to imagine the financial management of the state for the next 10 months, and the state's debts will soon reach 10 lakh crores.

 

A state government that has failed miserably in making a capital expenditure that would increase future productive income despite mounting debt piles. In the current financial year, the capital expenditure was estimated at 29.92 thousand crores but only 2.97% i.e. 886 crores was incurred by the month of May.

 

The illegitimate adjustments made between February and March of the last financial year 2021-22 have to be corrected and the true picture should be presented to the public.