Home Correctional service “The State anxious to mobilize loans”

“The State anxious to mobilize loans”


Visakhapatnam: Until now, government assets are mortgaged to qualify for a loan, steps are now being taken to mobilize loans from the revenue from the sale of alcohol.

Instead of making efforts to replenish the depleting state treasury and generate revenue, the Andhra Pradesh government is keen to avail the loans by identifying existing loopholes in the system, the BJP National General Secretary pointed out, D Purandeswari.

Speaking to the media in Visakhapatnam on Sunday, she pointed out that the PA is leading in debt rather than development. She said it is pathetic to see the state heading for financial emergency despite the Center extending its support. “The state is certainly setting an example for other states by mobilizing borrowing.

The government did not even spare GVMC properties. The current scenario clearly indicates that the focus is more on obtaining loans by mortgaging properties rather than creating assets,” Purandeswari pointed out.

Even income generated from the sale of alcohol is considered a mortgage, she pointed out, alerting people in the state to beware of the current scenario. BJP MLC Madhav, Deputy State Chairman P Vishnu Kumar Raju, Chairman of BJP Visakhapatnam Parliamentary District Raveendra Medapati and Party Leader Suhasini Anand were present.