The State government has given guarantees in excess of ₹1.67 lakh crore in the last seven years towards loans drawn by State-owned corporations and public sector undertakings from public sector banks.
The guarantees which started with ₹100 crore in 2014-15, the year of State formation, grew significantly over the years barring 2018-19. Guarantees given to loans taken by corporations and public sector undertakings during 2015-16 were ₹1,830 crore and ₹24,820 crore and ₹22,689 crore in 2016-17 and 2017-18 respectively. The quantum was relatively less the next year 2018-19 at ₹11,927 crore but increased to ₹22,020 crore the next year.
This was followed by ₹48,294 crore in 2020-21 and another ₹35,624 crore in 2021-22 taking the total quantum of guarantees to ₹1.67 lakh crore. Minister of State for Finance Bhagwat Karad released the figures in response to an unstarred question by Congress Member of Parliament from Nalgonda N. Uttam Kumar Reddy in the Lok Sabha.
