AP can’t pay interest on loans, says BJP

Vijayawada : BJP State chief spokesperson Lanka Dinakar has expressed concern over the financial status of the State and stated the Government cannot pay interests on the loans it had taken. He said the Andhra Pradesh government loans increased to Rs 12 lakh crore.

Lanka Dinakar on Wednesday reacted to the vote on account budget presented in AP Assembly by Finance minister B Rajendranath Reddy. The state government presented the budget with estimated expenditure of Rs 2.86 lakh crore. The revenue of the state government has increased in the last five years but the revenue deficit has also increased. He said the government has shown Rs 30,000 crore as the capital expenditure in the state budget.

The capital expenditure in the past five years was very pathetic and there was no creation of wealth. He lamented that loans of the corporations increased but the corporations don’t have income.

He said pending bills are increasing and the government has given guarantees on the loans. He said the budget estimations were Rs 1.80 lakh crore in 2019-20 and now they increased to Rs 2.86 lakh crore in 2024-25 and loans increased from Rs 7 lakh crore to Rs 12 lakh crore and the government may not pay interest on the loans in future.