Union Government has warned Andhra Pradesh Government over limitless loans. The central government has clarified to the state government that it will review the financial health of the state every three months in this financial year.
“The focus should be on spending money towards Capital Expenditure (which is expenditure towards infrastructure creation). We will review in September, December, and March. If the target is not met, we will decrease the loan limit,” the center reportedly warned the state government.
The RBI has asked the state government to take the Union Government’s approval when the state tried to get a 2,000 Crore loan in the very first month of the financial year. The Center has written to the state that it can not borrow more than 42,472 Crore in 2021-22.
It also clarified that 27,589 Crore should go towards Capital Expenditure which means needs to be spent on infrastructure creation. That means only 14,883 Crore can be used on freebies.Don't MissWhat is the Real Reason Behind Sharmila's Party?Late YSR's daughter, YS Sharmila has announced enterting politics to safeguard Telangana's self-respect. At the...Don't MissPre-release Business Report: What Vakeel Saab Needs To Be A HitPowerstar Pawan Kalyan’s comeback film Vakeel Saab is all set to storm the cinemas in...Don't MissSharmila Episode and Viveka Episode, YSRCP Uses Same Strategy?YSR Congress Honorary President YS Vijayamma has written an open letter to the people of...Don't MissPawan Kalyan's Logic Flawed Claims Political OpponentsPowerstar Pawan Kalyan had announced quitting films before the 2019 elections but later made a...Don't MissChiranjeevi Leads Tollywood to Another Noble CauseMegastar Chiranjeevi has called for a Pressmeet to appreciate the team of Wild Dog. Chiranjeevi...