Saturday, July 25, 2009
Nuvvu Rs. 13,000 appu vunnavu boss!
Posted by tolly-2-bolly on 8:01 PM in Hot News | Comments : 0
Its official now. The debt burden on each and everyone (of the 8.3 cr population) in A.P is a minimum of Rs. 13,000. The state's debt is now bigger than its official budget of Rs. 1,03,485 crores. A heavy and pronounced tilt towards infrastructure and welfare projects is slowly but steadily pulling us into an irreversible debt trap. And in an attempt to service that debt our government is selling away its assets. This is a a dangerous precedent being set here. Of course our FM says that the way out is irrigation projects bear fruit, agricultural output picks up and thereby economy grows steadily and outpaces the burden of debt. This is certainly a very optimistic scenario. But rarely do things happen so smoothly. Sooner than later practical necessity will replace populism and we will be slapped with more taxes than we can possibly bear.
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