AP Will Be Bankrupt By March: Undavalli

Former MP Vundavalli Arun Kumar has predicted doom for Andhra Pradesh latest by March next year. “We have heard about individuals going bankrupt or going for insolvency. Maybe the state or central government will not have that. But AP’s condition is similar to bankruptcy,” Undavalli predicted.

“The situation is so serious that AP Government is not even getting loans without keeping assets as surety. There can be no bigger shame than this. Very soon, we will run short of assets to mortgage. AP has 20,000 Crore only for Government employees in salaries and pensions,” Undavalli said.

“Chandrababu Naidu stepped down with 25,000 Crore pending bills to contractors. Jagan Government added another 65,000 Crore Bills in these two years taking the total to 90,000 Crore. So, all the works are on hold. Court already ordered to clear NREGA bills with 12% interest. It will happen with the contractors as well,” the former MP said.

“I am completely worried about the state. I don’t know if I am the only one who is worried. But everyone will be at the receiving end. I do not know how the state will survive until the end of this financial year. Even surviving by March is not easy,” Undavalli Arun Kumar predicted.