AP Government takes another loan from RBI

Covid-19 pandemic from April 2020 to till date, has made lives of many people around the world a living hell. Governments across the Nations and local state governments are facing different challenges to bring the fiscal deficit down and keep economical growth in their areas on track.

AP Government is facing difficulties in honoring promises they have made in their manifesto before the 2019 Assembly elections. They have come to power after promising great focus on welfare schemes and CM Jagan has been adamant on keeping his promises by going to any length.

Due to this State economical condition hasn’t been great and Pawan Kalyan, Nara Chandrababu Naidu have been attacking YSRCP Government on this low economical growth and fiscal deficit condition. Still, AP Government is trying to use every possible route to get a loan and keep the welfare schemes going.

Recently AP Government took another 2000 crores loan from RBI by putting Security bonds as collateral. Union Government as allowed states to take 36 thousand crores of loans and AP is going to exceed that limit going at this rate.

Related Articles

- Advertisement -

Latest Articles