Eenadu has come up with an interesting story indicating that Andhra Pradesh is slipping into a dire financial mess.
Thanks to the salaries, and pensions, and topped by mindless populism, the state needs a whopping 21,000 Crore every month on average.
But according to the figures available with CAG, the average revenues earned by AP are only 9,086 Crores.
That means the state is clearly running on debt. The government is saying that is only borrowing 4,629 Crore every month.
Put together, AP is having only 13,715 Crore. The question is what about the shortfall of 7,000 Crore every month?
The Government is making up by secret loans and keeping many bills pending.
Unofficial information is that the Government has borrowed 85,000 Crore this year so far.
The state government did not even inform CAG about the facts on its borrowings.
The question is how long this can go on and how long the central government be negligent about it.