Andhra Pradesh government had used Overdraft and Ways and Means facilites to bring in funds from RBI which are available to states in severe financial crisis. The state till Thursday had taken 1440 Crore by Ways and Means and 2219.76 Crore by Overdraft. The state will have to pay 9.5% interest for the funds used for Overdraft.
However on the other side, Sakshi media is propagating a version that the state is not in dire financial situation but opted to go to Overdraft to blackmail the Central government. The article said that Chandrababu Naidu wants to show that the state is suffering from revenue deficit through this Overdraft trick.
The recently tabled Andhra Pradesh budget finalized the revenue deficit of the state in 2014-15 at 14242 Crore. According to the Andhra Pradesh Reorganization Act, the Central government should cover up the revenue deficit of the truncated state for the first year. However there is no movement from the center in that direction.
However this is a totally wrong version as no one can deny AP's loss due to the state division. In a way, this is an anti-state propaganda by Jagan media which can deprieve Andhra Pradesh its rightful share from the Center. It is said that responsible media platforms are being misused for political gains.
