andhra pradesh chief minister YS jagan mohan reddy took the reins of the State which is severely battered by the State Bifurcation followed by a Corrupt Regime of Chandrababu Naidu. He is struggling to hold the state finances together but is still making an honest attempt to fulfill the promised made during the Padayatra.
The State government has gone for loans ten times in a single month by the sale of the bonds. This is a record to go so many times for loans in a Single Month, with respect to Andhra Pradesh. Andhra Pradesh government has taken loans worth 33,617 Crore in this financial year already.
Every month, rbi conducts five auctions for raising loans in lieu of government Securities. andhra pradesh participated in all the auctions but raised money twice in each auction. Thus, it has gone for loans ten times this month. Only in november, the government has taken a loan worth 8,513 Crore. We have four more months in this financial year but the State government can only borrow 7,000 Crore this year. That means even tougher time awaits the state government until march next year.