Telugu Desam Party president and Andhra Pradesh Chief Minister N Chandrababu Naidu, who has repeatedly criticized the previous Y S Jagan Mohan Reddy government for allegedly leaving the state with a debt burden of ₹10 lakh crore, has himself embarked on a borrowing spree since returning to power.
According to a recent Economic Survey report tabled in the State Assembly, Andhra Pradesh’s total debt, which stood at ₹4,91,734 crore at the end of the 2023–24 financial year, rose to ₹5,64,488 crore by the end of 2024–25 - an increase of nearly ₹73,000 crore in just one year.
Of this, market borrowings alone surged from ₹3,66,565 crore in 2023–24 to ₹4,24,070 crore in 2024–25.
As the new financial year began on April 1, the Naidu government appears to be heavily dependent on loans, even though it has yet to fully implement its “Super Six” promises.
Since taking office, the Naidu administration has been periodically auctioning government securities and bonds to mobilize thousands of crores. Now, it has once again opted to raise funds by auctioning securities worth ₹5,750 crore.
The government has submitted five stock issues for auction through the Reserve Bank of India (RBI). Among these, one stock is valued at ₹1,400 crore, another at ₹1,350 crore, and the remaining three at ₹1,000 crore each.
These securities are scheduled for auction on April 3 (Thursday) via the RBI's Core Banking Solution (e-Kuber) platform and will be sold through both competitive and non-competitive bidding.
The tenures of these securities vary — one has a maturity period of 16 years, another 15 years, and the remaining three will mature in 8, 9, and 12 years, respectively.
These bonds are open for purchase by both individuals and institutions.
According to the RBI’s announcement, competitive bids must be submitted between 10:30 AM and 11:30 AM on April 3, while non-competitive bids should be submitted between 10:30 AM and 11:00 AM on the same day.
