The piquant situation of Andhra Pradesh’s finances have come into the fore in a much more alarming manner which is all set to unfold in next few hours.
It is a known fact that AP has been borrowing from Reserve bank of India through ways and means and this has now exceeded and the state is now in over draft mode for which there would be heavy interest levied after March 31st.
AP needs to repay more than 1700 crores urgently to RBI and this can only come if Centre releases the funds needed which was promised in financial year 2014-15 which ends on March 31st, for last years revenue deficit.
Senior officials of finance minstry, finance minister Yenamala, CM Chandrababu and other MPs including Srujana and Ashok Gajapathi Raju are camping in Delhi to make sure this is done and are running behind the Centre.
