# Tags

All Doorways Closed, Jagan To Meet PM Modi!

Beleaguered Andhra Pradesh goes by way of a tough and tumultuous section financially. The state is reportedly struggling to pay salaries to the federal government staff. As January marks the brand new yr and Sankranthi pageant is across the nook, the stress is mounting on the federal government to pay staff salaries well timed.

Alternatively, AP authorities’s requests to lift loans have been hit by roadblock. With this, CM Jagan is reportedly looking for PM Modi’s intervention and help to extend the mortgage restrict for AP. Jagan has sought PM Modi’s appointment and it has been confirmed for Dec twenty eighth. Jagan is flying to Delhi for Modi’s help.

AP has borrowed loans past its restrict. This was confirmed in numerous experiences. The general money owed of AP is near Rs 10 lakh crore which goes to be a brand new file in loans.

The YSRCP-led authorities made money owed of Rs 2.08 lakh crore from the RBI within the final 3 years of rule. From the Centre, it made one other debt of Rs 5952 Crore. The debt made by the Municipal Companies within the final 3 years was at Rs 80,603 Crore. By mortgaging properties, the state made one other debt of Rs 87,233 crore. Apart from all of the above, the state took a mortgage of Rs 8,305 crore on the long run income of liquor sale. Thus, the state is pushed into neck-deep money owed.

The AP authorities is presently working the state on overdrafts. As per analysts, a state isn’t allowed to be in Overdrafts for greater than 36 days in 1 / 4. Within the current quarter (Q3 of FY 22-23), AP is in overdrafts for 28 days already. In December 2022, solely 4 days are left. Thus, it turns into very crucial for AP to run the remaining days. Thus far, the AP authorities managed this example by bringing the state out of ODs for a day or two and once more pushing again into the ODs. Therefore, the assembly with PM Modi is essential for the Jagan authorities.



Leave a comment

Your email address will not be published. Required fields are marked *