State’s borrowings are in violation of FRMB limit: Yanamala
The Hindu
‘Buggana misleading by stating that govt. guarantee is not needed’
Senior TDP leader Yanamala Ramakrishnudu has asked Finance Minister Buggana Rajendranath Reddy to clarify whether the Centre has increased the FRMB limit to 5% without any pre-conditions. “The State government’s borrowings and loans are in violation of the FRMB limits,” Mr. Ramakrishnudu said in a statement on Friday. The Finance minister was misleading the people by asserting that there was no need for “government guarantee” for loans amounting to ₹25,000 crore availed by the government through the AP State Development Corporation Ltd. (APSDCL).
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