Yahoo Finance Financial Health of Andhra has deteriorated completely: BJP's Lanka Dinakar
Hyderabad (Telangana) [India], July 30 (ANI): Bharatiya Janata Party (BJP) leader Lanka Dinakar on Friday hit out at the Andhra Pradesh government over the financial situation of the state and said that the financial health of the state has deteriorated completely.
Speaking to ANI, Dinakar said, "The present situation of the State is in precarious conditions and it worries the unimaginable unhealthy financial practices, which have been operated by the YSRCP leader YS Jagan Mohan Reddy led Government of Andhra Pradesh for last 2 years."
"Now, the State is in a debt trap without any future revenue-generating productive assets and funds are simply diverting for unproductive scheme to appease the few sections of the people to convert them as a vote bank," he said.
"The situation will become like Venezuela in the near future if we are silent. Already, Employees of the State Government are under tremendous pressure as there is no specific time to transfer their salaries by the Government on time for the last few months. Even on some occasions, Salaries had been paid from the debts," he added.
"Financial Health of the State has deteriorated and it will be in Coma if the things continue as it is. As per the Budget of Andhra Pradesh for the current financial year 2021 - 22, there was an estimated debt was projected as Rs. 37,029.79 Crores. But, as per the Monthly CAG Report, State Government had raised new debt for Rs. 19,714.04 Crores in the first month ( April) of the current financial year itself, which is 53 per cent of the total estimated debt for the total year," he added further. (ANI)