AP FM Says Efforts on to Bring Down Annual Interest Payments by ₹2K Crore

VIJAYAWADA: AP finance minister Payyavula Keshav informed the AP Legislative Assembly on Thursday that the state government is holding discussions to reduce interest rates on high-cost loans raised earlier. “Efforts are being made to bring down interest payments by nearly ₹2,000 crore annually. The ₹2,000 crore saved every year will enable the government to implement several schemes more effectively,” Keshav maintained.

Replying to the discussion on 2026–27 State Budget, the Finance minister defended the coalition government’s fiscal roadmap while launching a sharp attack on the previous YSRC regime. He asserted that the government is committed to implementing welfare and development schemes efficiently. On the proposed Rayalaseema Horticulture Hub, he expressed confidence that Rayalaseema’s produce will soon receive international branding on the lines of Araku.

Keshav went on to accuse former chief minister Y.S. Jagan Mohan Reddy of betraying Rayalaseema. In this regard, he placed before the House documents regarding the Rayalaseema Lift Irrigation Project.

The minister listed achievements and promises of the coalition government, including ₹12,000 crore for Amaravati, ₹15,000 crore for Polavaram, revival of the Visakhapatnam Steel Plant, a Google data centre in Visakhapatnam, a railway zone, job creation for 20 lakh youth, national highways and railway lines, port and airport expansion, drinking water connections, pothole-free roads and enhanced welfare measures.