Andhra Pradesh just missed the Overdraft Scare!

Andhra Pradesh which was supposed to take the shame of going Over Draft and getting its accounts freezed, is now relieved. The truncated state is able to avert the embarrassing situation with the help of last minute funds released by the Central government.

The state managed to get 8375 Crore in the last 3 days from the Central government. Major share of these funds are normal allocations on par with all the states but Center is holding them for a long time. Some 4000 Crore were allotted under various promises under Andhra Pradesh Reorganization Act.

Even though the state government is not fully satisfied with the allocations, they are happy that they could avert Over Draft for now. The state is likely to be in Ways and Means for 1-2 days but will restore normalcy very soon. Chandrababu had sent a finance department employee to Nagpur to make sure RBI releases the allocated amount as soon as possible and it worked in favour of the state to get the funds very soon. Finally they say the government will now be able to give salaries for April.