BJP Andhra Pradesh unit president Daggubati Purandeswari has demanded that Chief Minister Y.S. Jagan Mohan Reddy should release a White Paper on the government’s debt that stands at a staggering ₹7,14,631 crore including an ‘unofficial debt’ of ₹4,74,315 crore.
That is the total borrowings by the YSR Congress Party (YSRCP) government in the last four-and-a- half years and roughly ₹50,000 crore is going towards debt servicing every year against the approximate annual revenue of ₹1,25,000 crore, Mr. Purandeswari pointed out, while addressing the media here on July 19 (Wednesday).
“The Central government has been warning the State against the consequences of its huge debt, especially the impact of loans raised from institutions other than the Reserve Bank of India (RBI). But, the State is continuing to borrow against norms to keep itself afloat,” she said.
