Andhra Pradesh Government is under severe financial stress. While it is becoming increasingly difficult to meet the regular salaries and pension bills every month, the state government is rolling out new schemes every month. As a result, the government is resorting to loans like never before.
At this juncture, the Central Government has delivered sweet news. The Union Finance Ministry has okayed to release 1850 Crore Rupees towards the Polavaram Project expenses. The previous Chandrababu Naidu government had spent around 5000 Crore Rupees for the Project.
The central government has agreed to release 1850 Crore Rupees for now. The State Government is disappointed as it has expected the Center to release 3000 Crore at least. The State Government is expecting the remaining amount in two installments.
On the other side, it is known that Andhra Pradesh High Court issued a stay on the Project works in the wake of Reverse Tendering controversy.
