Jagan Mohan Reddy who is the second Chief Minister of the Navya Andhra Pradesh is following the route of former Chief Minister Chandra Babu Naidu more or less accurately. At first, he changed the names of most of the welfare schemes introduced by Babu and added a few and burdened the state which is already financially weak.
Now, Jagan wants to take Rs.14,000 cr loan for the welfare activities of the next three months and this number is just an estimation while Jagan doesn’t have any actual equation to calculate the required sum. So, initially, Jagan became a proponent by explaining the Reserve Bank about the needs of AP so that he can negotiate for a good deal.
Actually, before the start of this economic year, the AP government needed only Rs.11,000 crores but that amount was increased by 30% due to the COVID pandemic and many other reasons. Jagan needs to know how much would be adequate for the state and later he should lookout for a way to stop this trend of taking loans from the Reserve bank.
AP, needs investors, capital and all other sources of income such as industries and companies for which Jagan has already failed to create a venture or a hub and now he is looking at Reserve Bank to let the state submerge in more and more loans that eventually show their effect on the people in this pandemic period.
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