AP Plunges Into Deep Financial Crisis

07 Oct 2017 2:52 PM

Chief Minister N Chandrababu Naidu has brought Andhra Pradesh under deep financial crisis. The government gone to wage and means and spent Rs 29, 154 crore in three months alone. It was in addition to the budget earmarked in 2017-18 financial year.

In the first quarter, government incurred Rs 50, 000 crore expenditure. Last year, it was Rs 31,000 crore. Chandrababu got Rs 6210 crore from the RBI.

Economic experts warned AP will not get loans at lower interest rate if the state owned debts increased abnormally. It was open secret that Chandrababu spent Rs 50 crore each on his swearing in ceremony and Bhumi Puja for Amaravathi capital city, Rs 400 crore to laying foundation stone for capital city, Pushkar shooting -25 crore, CM Chambers - Rs 10 Crore, Delhi tours - Rs 24 crore and another 80 crore were spent on Japan and Singapore tours.

It was known fact that Chandrababu spent public money lavishly for his family stay in Hyderabad as well as in Vijayawada since he assumed CM office.