Andhra Slipping into Deep Financial Mess

Andhra Pradesh is slowing slipping into a deep financial mess. In just two months, the finances have gone bad to worse. The State accumulates around 8500 Crore income every month and is resorting to 3000 Crore loans as well. In that way, 11,500 Crores are at the State Government’s disposal every month.

But then, the expenses are going much beyond the incomes. In September and October, the State Government is planning to roll out of some Welfare Schemes which will result in additional expenditure of 15,220 Crore. There is a revenue shortfall of 12,200 Crore for these two months alone.

Chief Minister YS Jagan Mohan Reddy had asked the officials to increase the income somehow. There is a huge quantum of pending bills as well and so, the pressure is on from all corners. The government could not disburse salaries and pensions last month and this month looks no different.

Luckily, for the State Government, the month began with two holidays which gives it some time to accumulate the necessary funds,