VIJAYAWADA: The State government had raised market loans through the Reserve Bank of India (RBI) to the tune of Rs 1,97,232 crore from 2019-20 to 2022-23.
In a written reply to a question raised by TDP MP K Ram Mohan Naidu in the Lok Sabha, Union Minister of State for Finance Pankaj Chaudhary informed that the AP government also availed loans to the tune of Rs 7,177 crore from National Bank for Agriculture and Rural Development (NABARD), National Cooperative Development Corporation (NCDC), Life Insurance Corporation (LIC), State Bank of India (SBI) and others in the said period.
This apart, the State government also got another Rs 15,569 crore as loans and advances from the Centre as per the RBI report titled ‘State Finances: A study of Budgets of 2022-23’.
In addition, the AP government had informed off-budget borrowings of Rs 22,549.50 crore in 2020-21, Rs 6,287.74 crore in 2021- 22 and Rs 1,976.22 crore in 2022-23 by the State public sector companies/corporations, special purpose vehicles and other equivalent instruments, where principal and/or interest are to be serviced out of the State budgets and/or by assignment of tax/cess or any other State’s revenue, the Union Minister said.