Centre Warns Ten Indian States About Heaping Up Debts

July 20, 2022 12:16

Centre Warns Ten Indian States About Heaping Up Debts:- Island country Sri Lanka is occupied with a deep financial crisis and is struggling to arrange basic essentials for the people. Indian External Affairs Minister S Jaishankar warned the ten Indian states that are in deep crisis. He said that the country would extend its help for the bailout talks of Colombo with the International Monetary Fund (IMF). He said that the delicate issue of Sri Lanka is of a deep concern for the country. Jaishankar said that the financial situation of ten Indian states is disturbing. He presented a power point presentation in the Parliament. The states are Andhra Pradesh, Haryana, Bihar, Jharkhand, Kerala, Madhya Pradesh, Punjab, Rajasthan, Uttar Pradesh and West Bengal. He said that the GSDP of Andhra Pradesh is 32 percent.

Government’s approach to Sri Lanka was explained in great detail. Appreciate the concerns expressed and suggestions made in the deliberations.
— Dr. S. Jaishankar (@DrSJaishankar) July 19, 2022

Andhra Pradesh borrowed Rs 28,837 crores through the means other than the budget of the state. The state owes Rs 10,109 crores to the Electricity Department and the state government gave a guarantee of Rs 34,208 crores. When it comes to Telangana, the GSDP is 25 percent. The presentation also narrated about the debits, credits, debts for other boards and the guarantees offered for the board. The leaders of AP and Telangana objected the presentation and they demanded the total debts of the Centre. The Telangana leaders told that Narendra Modi and his government borrowed Rs 95 lakh crores. Jaishankar said that the states need to be extra cautious and take the economy of Sri Lanka as an example.