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Andhra Pradesh exceeded fiscal targets, relied on short-term borrowing, and hid off-budget debt, per CAG report.
Andhra Pradesh's 2024-25 fiscal year saw the state rely heavily on short-term borrowing from the RBI, totaling ₹1.72 lakh crore through facilities like ways and means advances and overdrafts, with only eight days maintaining the required minimum cash balance.
The revenue deficit reached 3.75% of GSDP, exceeding the FRBM target of 2.7%, while the fiscal deficit hit 5.05%, surpassing the 4% ceiling.
Total borrowings amounted to ₹81,071 crore, with just 24% used for capital expenditure.
The state failed to disclose off-budget borrowings worth ₹27,241.99 crore, and financial misclassifications, improper fund transfers, and underperforming tax collections were flagged in a CAG report.
Andhra Pradesh superó los objetivos fiscales, se basó en préstamos a corto plazo y ocultó deudas fuera del presupuesto, según el informe del CAG.