Former Chief Secretary LV Subrahmaniam has expressed concerns over the financial condition of Andhra Pradesh which is slipping into a danger zone.
“We are on the verge of a financial disaster. It is very near. I can see it. There is a danger of RBI freezing accounts and Governor giving notices of taking some decisions,” he warned.
“If a state is broken, the burden falls on the central government. At the same time, the central government’s finances are not in great shape,” LV told.
“It’s time the Chief Minister should wake up. He should pick a couple of schemes and temporarily stop the rest. Or else, the state will not survive,” he advised the Chief Minister.
“There are serious issues like funds diversion, FRBM violations, etc. The government is rubbishing the reports of CAG, Public Accounts Committee Reports, etc. But they are proved wrong,” the former Chief Secretary said.
According to the financial experts, Andhra Pradesh’s debt maybe around 7.77 Lakh Crores by the end of 2021-22. Around half of the debt has been accrued in Jagan Mohan Reddy’s regime.
