According to official sources, the andhra pradesh administration has asked the Centre for immediate financial support to revive the state economy. The amount of federal support might be anything from ₹10,000 crore to over ₹15,000 crore, but no formal figures have been disclosed.

According to official sources, the state government would prefer help in the form of a central grant, although a soft loan extension from the center would also be appreciated. An official from the state administration stated, "We are seeking a deferment, not a default." According to sources, the main priority right now is to get the irrigation projects going again, particularly the polavaram project for which funding has been asked.

Speaking about some of the state's financial problems, official sources stated that power dues over the last five years alone have amounted to about ₹60,000 crore and that unpaid industry incentives total another ₹9000 cr. Additionally, officials stated that five to six White Papers, one of which is on state finances, are expected to be released by July 18, following which andhra pradesh will hold a vote on accounts and present a new budget only the following year. 

In this case, Rs 15,000 crore for Andhra Pradesh's new capital, announces nirmala sitharaman in Budget speech
 
For more interesting updates wa click and follow Indiaherald WhatsApp channel

Find out more:

SIBY JEYYA

23/07/2024 11:34 AM