Financial Pressure once again on AP

Cash strapped Andhra Pradesh is once again feeling the financial pressure. Land Pooling, Pushkaralu maintenance, Power subsidy, PRC, 3rd phase Runa Maafi, Pending bills etc are mounting on to the government day by day.

[m9ad]

These expenses will need at least 5000 Crore with only Runa Maafi needing 2000 Crores. The state government is planning to auction 1000 Crore bonds with RBI. This is the third time this financial year the state government is going to open market for loans.

Already the government had pooled in 2500 Crore from this open market loans. The government had already stopped clearly big bills and is only clearing small bills from the last few days. On the other side, the recently conducted second phase Red Sanders auction also did not get proper response as anticipated by the state government. The Chief Minister is busy exploring new options to increase income.