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AP 4th, Telangana 6th in available loans: RBI bulletin

Hyderabad: According to the recently published Reserve Bank of India (RBI) bulletin, AP and Telangana rank 4th and 6th in terms of available loans.

From April 20 to December AP took advantage of Rs.44,250 cr and Telangana Rs.36,354 while Karnataka took advantage of Rs.55,000 cr and Rajasthan Rs.39,000. These figures clearly indicate the economic situation of the two Telugu states. .

Until December of the 2020-2021 fiscal year, the states of the country have benefited from a total loan of Rs.5,55,852 cr.

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The AP government received 4.3% more loans through December compared to the previous year figure. On the other hand, the Telangana government benefited from 98.45% of additional loans compared to its last fiscal year.

The Telangana state’s debt burden is increasing every year, forcing the state to cut its budget. The state finance ministry is also reviewing the reduction in the current fiscal year.

The coronavirus crisis and the lockdown have further weakened the state’s financial situation. Excise and registration revenues have declined considerably.

In this situation, the state government is forced to resort to more loans to implement development projects and social protection programs due to which it has to pay Rs. 12,000 cr as annual interest on the loans.

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