The debt burden to Andhra Pradesh goverment is mounting up like never before.Its just the second month of this financial year and not even half the month of May is finished, but the Chief Minister Jagan Mohan Reddy led YSRCP government has already borrowed Rs.9500 crores.
This is an indication of the financial indiscipline that exists in the state ever since Jagan came to power.
Even after borrowing so much, the Government did not pay salaries to many of its employees.
The Central Government agreed to allow 30,275 Crore worth loans for Andhra Pradesh in this financial year and the state government already exhausted one-third of it in just 40 days of the financial year.
Almost everything of this 9500 Crore was splurged or will be splurged on freebies and other routine expenditure.In all probability, the entire limit will be breached in six months or so if not earlier.
Jagan Mohan Reddy Government is pushing Andhra Pradesh into a financial quagmire.The Government is ably assisted by the Central Government which keeps relaxing the loan limits of the state despite being aware of the financial indiscipline.
