Andhra Pradesh Financial condition has slipped into deep red zone thanks to the exorbitant spending in the name of freebies. Financial and non-financial lending agencies are not even ready to give loans for the state with doubts over the repaying capacity.
Tragedy is that the Ministers and the Chief Minister is carrying the bad financial condition on their sleeve as if it is a medal. Minister Perni Nani in a conversation with Secretariat female employees termed AP’s Financial condition as ‘Ghorathi Ghoram’ (something very dangerous).
“A father promised his son to buy scooter if he passes in first class. But by the time, he passed, the father goes bankrupt. Even if the son abuses the father, what we can do? The poor are paying GST on salt and pulses as well. The Government has duty to do something to them. So, the welfare schemes,” the Minister said.
“If the entire revenue goes to paying salaries, pensions, and interests, what will we do for the poor? If we commit to highest PRC, we will not be able to pay salaries in the fourth or fifth month of the year. We can not borrow beyond a limit as well. So, Employees have to adjust,” Perni Nani added.