Danger lurking for AP – Salaries difficult!

RBI-AP-SalariesAndhra Pradesh finances have gone further worse as the Over draft of the state had reached 3000 Crore by Sunday. The state had gone overdraft from March 21 and has 14 days to clear the dues otherwise RBI will freeze the bank accounts.

On the other side, the state will need 2500 Crore to pay the salaries for its staff. The state government is hoping to receive some funds from the center in couple of days as the financial year is ending. Union Finance Minister Arun Jaitley had promised Chandrababu of the funds.

Senior IAS officers and some ministers are also camped in the national capital to follow up regarding the funds. In all the ways, the state is treading on a very dangerous path and its finances can collapse at any time. We will have to see if the Center intervenes at the right time to same the state from bankruptcy.



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