AP Govt’s Borrowings for First Half of 2020-21 Fiscal Far Exceeded Revenues, Says CAG Report

The Andhra Pradesh government’s borrowings for the first half of the 2020-21 fiscal far exceeded revenues and the revenue deficit touched a staggering Rs 45,472.77 crore, according to the state finance accounts released by the Comptroller and Auditor General. It said the state borrowed Rs 55,169.84 crore from different sources in the first six months as against Rs 48,295.59 crore target for the entire fiscal.

The revenue accruals, on the other hand, were just 27.73 per cent at Rs 44,915.52 crore in the first half out of the targeted Rs 1,61,958.50 crore for the year. AP’s tax revenue during the April-September period was just Rs 29,936.39 crore, compared to Rs 41,904.25 crore during the corresponding period last year, the report, released on Friday, said.