A.P.'s liabilities touched ₹9.74 lakh crore by June 2024: Payyavula
GS3Economy · S&T · Environment · Security· Fiscal policy, budget & taxation (GST)· Mains·
Why in news
Andhra Pradesh Finance Minister Payyavula Keshav released a White Paper revealing the state's total liabilities reached ₹9.74 lakh crore by June 2024.
Background
The state's total liabilities, including Public Sector Undertakings (PSUs), reached ₹9,74,556 crore as of June 12, 2024. The report identified internal debt as the largest contributor to this accumulation, with outstanding dues to entities and schemes totaling ₹1,13,244 crore.
Facts for Prelims
- FactTotal liabilities of Andhra Pradesh reached ₹9,74,556 crore as of June 12, 2024
- FactOutstanding dues to various entities and schemes totaled ₹1,13,244 crore
- FactInternal debt was identified as the largest contributor to the state's debt accumulation
For Mains
Q. Discuss the fiscal implications of high internal debt and off-budget borrowings on the economic stability of Indian states.
Dimensions to cover in your answer
- Fiscal space constraint: High debt-to-GSDP ratios limiting capital expenditure on infrastructure
- Transparency gap: Risks associated with off-budget borrowings bypassing parliamentary oversight
- Debt sustainability: Pressure on state revenue to service internal debt versus funding welfare schemes
Keywords: Fiscal deficit · Debt sustainability · Off-budget borrowings · Internal debt · Public finance
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