The Andhra Pradesh Government took loans of over Rs 95,600 crore from various agencies in the last seven years.
Giving the details during Question Hour in the State Legislative Assembly, Finance Minister Anam Ramnarayan Reddy on Thursday said that the State Government has taken loans agreegating Rs 95,609.12 crore between 2004-05 to 2010-11 from various agencies. Of this, Rs 52,966.77 crore was market borrowings. The government also took a loan of Rs 6,135.45 crore from NABARD; Rs 422.15 Cr from NCDC; Rs 1,550.15 Cr from HUDCO; Rs 2,009.79 Cr from LIC; Rs 25 Cr from GIC; Rs 20,392.51 Cr from NSSF; Rs 7,093.22 Cr from Government of India; Rs 3,126.72 Cr from APWRDS; Rs 1,616.20 Cr from APPFC and Rs 271 crore from other agencies.
The Finance Minister said that depending upon the institution, the rate of interest charged on these loans varies between 6.5 per cent and 13 per cent and the repayment period varies between seven to 25 years.
TDP MLA Ravula Chandra Sekhar Reddy also sought details of government expenditure. Although the government claims to be on the fifth position on the implementation of welfare schemes, he said that the government did not provide the break-up of actual expenditure. He also demanded a White Paper on the implementaiton of schemes for farmers’ welfare.
Lok Satta MLA Dr Jaya Prakash Narayana also asked the government to give clarity on the amount being spent on the welfare schemes.
Refuting the allegations of opposition party MLAs, the Finance Minister said that the government has been seriously working for the welfare of all sections of the society in the State. (INN)