AP debt burden reaches Rs 90,000 crore

Hyderabad, Aug 09: Andhra Pradesh's debt burden is increasing with every passing day. Pay revision of government employees, crop loan waiver and other welfare schemes further increased the debt burden. As of now, the state's debt burden stood at Rs 90,000 crore and experts warned that it would further rise once the Capital City construction works begin. The government is exploring various options to reduce the existing debt burden and to ensure funds for various projects. According to experts, the bifurcation of state resulted in undue financial burden. Of the Rs 1.15 lakh crore debt burden of united AP, the state inherited Rs 67,441 crore. The government borrowed Rs 11,000 crore in the previous year and with this the debt rose to 78,441 crore. It should pay Rs 16,000 crore on interests this financial year. This year government is planning to acquire loans of Rs 18,000 crore. Besides this the Centre may divide Rs 12,000 crore foreign loans between the two Telugu states and AP may get a share of Rs 6,000 crore in this. In all the state's debt burden rose to Rs 90,000 crore and government is yet to release fee reimbursement amount of students.