Andhra Pradesh Government’s financial condition is serious with the government not even in a position to pay salaries. The other day, the government has taken a 2000 Crore loan in the RBI auction at 7.12%, the highest interest rate in the country but the RBI deposited the money towards Overdraft.
The central government has also written a letter to the state government about taking loans mortgaging the future income from the excise department and cited it as against Article 266(1) of the constitution. While the government has no remorse about getting into this situation, it is upset about these things coming into the media.
The government has suspended three employees in the finance department on suspicion about leaking the information to the media. They include Nagulapati Vekateswarlu, Assistant Secretary to Government, C&DM Section, Finance department along with Kasireddy Varaprasad & Sreenu babu, both Section officers.
These employees are placed under suspension and were asked not to leave the headquarters without prior permission from the competent authority.