(Image source from: Dnaindia.com)
AP Into Deep Financial Crisis:- Andhra Pradesh has been badly affected after the state bifurcation. AP Chief Minister Chandra Babu Naidu has been focused on the development of the state along with the construction of a world class capital despite of the debts. The state has been in deep financial crisis and the Chief Minister himself revealed it during several occasions. However the welfare programs are being implemented successfully for which the AP Government should be well appreciated. It has been revealed that the financial crisis has been caused due to the sudden bifurcation of the state into Andhra Pradesh and Telangana.
The crisis has been continuing from the past couple of years and the state is said to have borrowed Rs 10500 crores already in the last couple of months. Rs 26819 crores loan has been allotted for 2017-18 and the state already managed to take Rs 21528 crores by the second quarter which alone says that the state is struggling with huge financial debts. Now the state government can take Rs 5500 in the second quarter as per RBI rules. The funds from the Central government are getting delayed and the state government too failed in securing grants from the Centre in various fields.
Chandra Babu Naidu is trying his best to manage to stand strong in this deep financial crisis and he continues to bring new projects for the state which can bring employment facilities for the youth in the coming years. However it’s high time for the state to come out of crisis.