Get new loan…settle older one

Hyderabad: Chandrababu was adamant in spending Rs.400 crores on Capital Foundation function. He is getting ready to clean the treasury for this and eager to leave debt burden on the people.

The funds in the State were almost zero; the money was spent lavishly on Chandrababu’s special airplane charges, on his extravagance and Star Hotel Meetings. Two days back Rs.1500 crores was brought as loan from the market, from this amount Rs.770 crores was settled for the Ways and Means account, Rs.100 Crores for Overdraft, just Rs.600 crores was left in the hand. This cash in hand too will diminish if four big bills were settled. But before that hundreds of crores will vanish for the foundation ceremony.

Overall, Chandrababu is ready to feast on borrowed money. He is getting new loans to settle the older ones ultimately building a big mound of debts in the State.