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Andhra debt liability put at Rs 177 billion

The public debt liability of Andhra Pradesh as on March 31 1998, amounts to Rs 177.30 billion, the unfunded debt stands at Rs 21.16 billion and the interest charges as per the budget estimates for 1998-99 is in the order of Rs 27.22 billion.

The state government has given guarantees on behalf of the Andhra Pradesh State Electricity Board, co-operative banks and societies, companies and corporations, to the tune of about Rs 102.36 billion, of which Rs 70.40 billion was outstanding as on January 1 this year.

Against the total outstanding debt, there are assets in the form of investments in securities of the central and state governments, shares in industrial concerns, co-operative societies, banks, industries and various capital assets like the Nagarjunasagar project, Sriramsagar project, Telugu Ganga project, Srisailam project, Tungabhadra project, Machkund, Tungabhadra hydro-electric scheme and other developmental schemes.

A sum of Rs 36.59 billion was also outstanding to the government as on March 31 this year, on account of the loans granted to the local bodies and farmers.

UNI