Andhra Pradesh has raised Rs 31,751 crore in open market debt so far in the current fiscal year.Currently, it has the flexibility to borrow Rs 2,155 crore through securities auctions till the end of December.
Of that, the Finance Ministry has already sent proposals to the Reserve Bank for another Rs 1,000 crore loan to participate in the auction to be held on next Tuesday and to meet various deadlines.
If the RBI approves, the balance would be Rs 1,155 crore by the end of December.
Still, there are two months for the end of the fiscal year.On the other hand, many bills are pending.
The Expenditure Division of the Union Finance Ministry has set a debt limit of Rs 42,472 crore for Andhra Pradesh in the 2021-22 financial year.Of this, Rs 5,309 crore was deducted in connection with capital expenditure.
An additional Rs 14,429 crore was added as loans were repaid in the past.The total creditworthiness is estimated at Rs 51,592 crore.
In the previous years, the state had spent an additional Rs 17,923 crore in excess of its eligibility.The creditworthiness is estimated at Rs 33,669 crore.Excluding other forms of borrowing, it was Rs 27,668.68 crore.Based on this, it has fixed the debt limit at Rs 20,751.51 crore till the end of December.
