AP’s finances getting further worse!

Financial position of Andhra Pradesh is deteriorating as days pass by. It is already known that the state had stalled paying all the bills to ensure salaries are given to employees this month. On the other side, bills are mounting on the state to the extent of 3000 Crore till date.

It is said that there are 400 Crore which are all cleared and ready to be processed. There are 1000 Crore Works and Projects Bills. There is a huge pressure from contractors to clear the bills. Finance department is struggling to find a way out of this mess. As the financial year is nearing close, these bills have to settled soon.

On the other side, Central government did not help the state as much as it expected. While these bills alone will cost 3000 Crore, the center only announced adhoc package of 500 Crore. It constituted a committee to decide up on the help if needed further. God knows when the report will come!