The Centre today (Tuesday) issued a statement in Parliament that the YSRCP government in Andhra Pradesh has breached the ‘permissible loan limit’ and availed ‘excess loans’ to the tune of Rs 4,000 crore in violation of FRBM norms.
The union minister of state for finance Pankaj Chowdhary responded on this issue in Rajya Sabha today.
To a question posed by TDP Rajya Sabha member Kanakamedala Ravindra Kumar on the loans availed by AP government, the union minister replied that AP government obtained loans in excess of Rs 4,000 crore.
He stated that AP was permitted to borrow Rs 30,305 crore for 2020-21.
Besides, AP was permitted to borrow an additional Rs 19,192 crore to tide over Covid financial crisis for 2021-21.
AP was allowed to borrow a total of Rs 49,497 crore for 2020-21 but AP government breached this limit and secured Rs 4,000 crore excess loans.
The union minister said the fiscal deficit of Andhra Pradesh as per 2020-21 budget is Rs 54,369 crore.