Andhra Pradesh‘s debts are Rs 5,50,650 crores. This debts amount is increasing every year. This includes loans raised from the open market, loans raised from the Centre, loans raised by other institutions and guaranteed loans given to public sector institutions.
If the loans brought through guarantees are excluded, the remaining debts are 33.94% of the state’s gross product. The Andhar Pradesh government has finalized the debt calculations since the bifurcation of the state in the year 2014.
Of the total borrowings, open market borrowings by mortgaging government securities with the Reserve Bank amounted to Rs 2,04,033 crores. These loans were taken up to 14th February. After that, the state government raised more loans in various ways over a period of months.
The loans taken from the Central Government are Rs 20,962 cr, loans from other institutions for implementation of welfare schemes are Rs.18,079 cr, loans from small savings institutions are Rs 8227 cr, loans from Provident Fund are Rs 29,236 cr, loans collected through deposits 51,719 cr.
As of 2014, Andhra Pradesh’s debt was Rs.97,177 crores. Debts in the first year after the bifurcation of the state reached Rs.1,48,743 crore. In the year 2018-19, the debts reached 2,57,510 crores. In the first year after YCP came to power in Andhra Pradesh, the debts reached 3,01,802 crores in 2019-20.
In 2022-23, Andhra Pradesh’s debt debts reached 4,32,257 crores. It is estimated that by next year, the debt will be close to 5 lakh crores.