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Heated debate on State’s debt

  • Heated debate on State’s debt

    Summary: The Finance Minister said the State obtained ?22,485.06 crore loans from Centre and other financial institutions and the total debt of the State was pegged at ?1.35 lakh crore. “The government has obtained loans for ensuring accelerated development in terms of necessary infrastructure. BJP member G. Kishan Reddy demanded that the government make public the details of loans obtained in the name of corporations. This was in addition to the off budget loans obtained in the name of corporations and the loans obtained by the government were around ?2 lakh crore taking the per capita debt to close to ?40,000. The government was remitting ?8,609.19 crore towards debt servicing annually.

    The subject of debt and external borrowing secured by the State government since the formation of the new State witnessed heated debate in the Legislative Assembly on Tuesday even as Finance Minister Eatala Rajender asserted that the government was opting for borrowings to fulfil the aspirations of the people. The Finance Minister said the State obtained ?22,485.06 crore loans from Centre and other financial institutions and the total debt of the State was pegged at ?1.35 lakh crore. The government was remitting ?8,609.19 crore towards debt servicing annually. The government was investing in fixed assets like irrigation projects and the loan portfolio was well under control due to the prudent financial measures initiated by the State , As Reported By Hindu.

    According to the Newspaper,“The government has obtained loans for ensuring accelerated development in terms of necessary infrastructure. This will in turn result in all round progress of all sections,” he said. Mounting debt The issue which figured during the Question Hour saw the opposition Congress and the BJP cautioning the Government against “indiscriminate borrowings”. Congress member T.

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