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Andhra Pradesh has 2.61 Lakh crore liabilities by May-end: B Rajendranath Reddy
Finance minister B Rajendranath Reddy announced the Government of Andhra Pradesh has outstanding liabilities of Rs 2,61,302 crore by the end of May 30, 2019 out of which the public debt was Rs 1,97,782 crore.
Amaravati: Finance minister B Rajendranath Reddy announced the Government of Andhra Pradesh has outstanding liabilities of Rs 2,61,302 crore by the end of May 30, 2019 out of which the public debt was Rs 1,97,782 crore.
He said Rs 63,520 crore was on public account, which includes un-apportioned public account of Rs 17,031 crore. He made this statement in the Legislative Council on Friday during the question hour during presentation of first budget by the state government.
Minister responded to the question asked by MLC Janga Krishna Murthy, Vennapusa Gopal Reddy and D Chinna Govinda Reddy. The members wanted to know the total amount of debt left with the state at the time of bifurcation, the total amount of loan obtained by the state government from June 2014 to May 2019.
Rajendranath Reddy said as on date of bifurcation i.e. June 2, 2014 residuary state of Andhra Pradesh was allocated outstanding liabilities amounting to Rs 1,30,654 crore i.e. Rs.97,123 crore of public debt and Rs 33,530 crore on public account, which includes un-apportioned public account of Rs 33,477 crore.
He informed the House that Rs 1,00,658 crore was borrowed by the state government (public debt) during the period from June 2014 to May 2019. He further said the state government has liability of another Rs 1 lakh crore as it has dues to Civil supplies Corporation, the APSRTC, scholarship pending to the students and other expenses.
However, former finance minister Yanamala Ramakrishnudu, countering the statement of Rajendranath Reddy, asked how the government would consider the outstanding liabilities and debts in the same manner. He said expenses incurred by the government for various corporations and welfare activities should not be treated as liabilities.
Responding to it, the finance minister said that he had not described the liabilities as debts and clarified that two subjects were different. He said only the government will have to pay the dues to the corporations like Civil Supplies Corporation, which supplied gift packets like Sankranti Kanuka, Ramzan Tofa or pending scholarships to the students.
Yanamala said the Central government had to allocate grants to the state as part of the AP Reorganisation Act. Other MLCs also expressed similar opinion and felt that the Central government has to allocate grants and funds to the state for developmental works.
