Andhra Pradesh

BJP leader Lanka Dinakar raises concern over Andhra Pradesh’s finances

VIJAYAWADA: The financial health of Andhra Pradesh is in a precarious condition, BJP leader Lanka Dinakar said and warned that the State would be pushed into a debt trap if the situation continues.

Dinakar, in a statement, said the CAG report reveals that annual estimated debt for FY 2021-22 has been completed in the first four months itself. The total debt as per the budget estimate for 2020-21 was Rs 37,029.79 crore, and the State incurred Rs 36,171.61 crore as on July 2021.

He averred that the additional debt as incentive allowed by the Union Finance Ministry may not be possible for Andhra Pradesh in the second quarter as capital expenditure would not be incurred as per the norms.