The Central government has said that the off-budget borrowings by the Andhra Pradesh government will be considered as State government loans. Andhra Pradesh government’s off-budget borrowings stand at ₹79,815 crore and the excess over the borrowings by the State government will be adjusted in the subsequent financial years, it has said.
Giving a reply to a question raised by TDP MP K. Ravindra Kumar in the Rajya Sabha, Union Minister of State for Finance Pankaj Chaudhary said that Andhra Pradesh government issued guarantees of ₹22,366.08 crore during financial year 2021-22 and ₹57,449.55 crore during financial year 2022-23.
There were instances of borrowings by certain State Public Sector Units, Special Purpose vehicles (SPVs) and other equivalent instruments, where principal and/or interest were to be serviced out of the State Budgets and/or by assignment of taxes/cess or any other State’s revenue.
