The total outstanding liabilities of Andhra Pradesh government are at ₹4,28,715 crore as on March 2023, the State government said on Tuesday.
Citing the data from Reserve Bank of India (RBI)‘s recently released report on State finances, the government said the figure of ₹4.28 lakh crore was arrived at by RBI.
In a statement issued on Tuesday on the State finances, the government after taking into consideration the audited numbers released by the CAG and after making some ‘minor adjustments’ to better reflect the actual financial position of the State.
The outstanding liabilities of the combined State of Andhra Pradesh on March 2014 were at ₹1,96,202.40 crore with an addition of ₹7,333 crore as the fiscal deficit for the first two months of 2014-15.
“Of this, as per the State Reorganization Act, 58 per cent is devolved to the successor State of Andhra Pradesh. Therefore, we can say that the liability of the State of AP at the time of formation of the TDP government in June 2014 is ₹1,18,050 crores and the same has increased to ₹2,64,451 crore as of 31st March 2019,’‘ the statement said.
With respect to AP State government, only corporations pertaining to the power sector have been historically securing debt without government guarantee. And these debts “cannot be regarded as government debts”‘, the statement said.