AP's Loans: Over Rs. 95,600 Crore

The Andhra Pradesh government took loans of over Rs. 95,600 crore from various agencies, in the last 7 years.

Giving details during Question Hour in the state Legislative Assembly, Finance Minister Anam Ramnarayan Reddy, on Thursday, said that the state government has taken loans of Rs. 95,609.12 crore between 2004-05 and 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 crore from NCDC; Rs. 1,550.15 crore from HUDCO; Rs. 2,009.79 crore from LIC; Rs. 25 crore from GIC; Rs. 20,392.51 crore from NSSF; Rs. 7,093.22 crore from the government of India; Rs. 3,126.72 crore from APWRDS; Rs. 1,616.20 crore 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% and 13%, and the repayment period between 7 and 25 years.

TDP MLA Ravula Chandra Sekhar Reddy also sought details of the government's expenditure. He said that although the government claims to be in the 5th position in the implementation of welfare schemes, there was no break-up of the actual expenditure.

He also demanded a white paper on the implementaiton of schemes for farmers' welfare.

Lok Satta MLA Dr. Jayaprakash Narayan also asked the government provide more clarity the amounts being spent on welfare schemes. (INN)