Vijayawada: BJP expresses concern over loan spree by state government

Vijayawada : BJP state official spokesman Lanka Dinakar expressed concern over the increasing debts of Andhra Pradesh government. Stating that state government’s loans have crossed Rs 11 lakh crore, he said it will be very difficult to repay them for this present government and even the next governments. Speaking to media at the state party office here on Wednesday, Dinakar said the government is spending huge amounts for unproductive expenditure and it will harm the state in future.

He said the interest on loans will increase in the coming years and the next government may not pay the interest and they will become defaulters if the existing trend continues of taking loans every month and every year.

He said recently released CAG report said the state government had failed to utilise the Central government schemes by failing to release the matching grants.

Dinakar said the CAG mentioned the deficit budget and the unofficial loans taken by the government. The BJP leader said the state government is facing difficulties to pay the salaries to the employees and expressed concern that financial condition of the state will deteriorate further if the loans taken by the government increased further.