Southern States - Andhra Pradesh   

Per capita debt burden in AP Rs. 4,300

By Our Special Correspondent

HYDERABAD Sept. 3. Every citizen of Andhra Pradesh carries a debt burden of Rs. 4,300, thanks to the massive borrowings by the State Government from internal and external sources.

The State's cumulative debt stands at a whopping Rs. 42,000 crores today against Rs. 16,000 crores in 1995-96 when the Congress lost power to TDP. During the current year itself, the borrowings will be to the tune of Rs. 7,300 crores.

Giving these figures at a press conference here on Tuesday, the Finance Minister, Y. Ramakrishnudu, said the annual average growth rate of debt stood at 24 per cent now, up from 17.1 per cent when the TDP came to power.

However, he saw no cause for alarm in this trend claiming that the borrowings had been put to good use resulting in a rise in the State's GSDP and per capita income and reduction in poverty levels. He drew satisfaction from the fact that the par capita debt of West Bengal, Maharashtra and Gujarat was higher than AP.

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