Sat. Apr 20th, 2024

Andhra Pradesh Owes Rs 6,958 Cr to Indian Railways

Andhra Pradesh Owes Rs 6,958 Cr to Indian RailwaysAndhra Pradesh Owes Rs 6,958 Cr to Indian Railways

Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy, as well as former Chief Minister of Telangana K. Chandrasekhar Rao, have consistently voiced concerns regarding the release of pending funds by the Central government. These funds pertain to various taxes and the execution of crucial projects vital for the development of their respective states. Both leaders have emphasized the importance of these funds in driving forward progress and addressing the needs of the people effectively.

However, concerning the Indian Railways, the situation takes a different turn. The states of Andhra Pradesh, Telangana, and Karnataka collectively owe over Rs 9,000 crore to the Railways as their share of costs for projects carried out within their borders. Among these states, Andhra Pradesh leads with a debt of Rs 6,958 crore owed for railway projects being undertaken in collaboration with the Central government on a cost-sharing basis.

Karnataka owes the Indian Railways Rs 928 crore, whereas Telangana, a neighboring state, owes Rs 1,253 crore.

Y.S. Sharmila, the head of the APCC, has disclosed that Jagan requires an annual budget of Rs 55,000 crore to carry out Navaratnas. However, the state has already taken out loans totaling more than Rs 8.5 lakh crore from a number of sources, even though it has raised taxes and refused to provide fuel subsidies.

Furthermore, recent revelations indicate that the state is also indebted to the tune of nearly Rs 7,000 crore to the Railways. Such revelations raise questions regarding the effectiveness of the numerous advisors appointed by the government and their role in managing state finances.

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