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Yandamuri's Take On AP's Financial Crisis
By: Tupaki Desk | 27 Jan 2020 7:46 AM GMT
Yandamuri Veerendranath expressed his views on the alarming situation in Andhra Pradesh. He was particularly mentioning about the low revenue generation and its mismanagement in the state.
The Renowned Novelist questioned, 'If the revenue is around Rs 55,000 crore and the free schemes implemented by the Government require Rs 50,000 crore, How can anybody expect sufficient funds for other activities? To pay the debts, Government has been borrowing loans. It is not even in a position to pay Rs 25,000 crore debt since an year. FRBM limit crossed 3.5 percent and that's an alarming sign. When the state is in a financial crisis, How could the Government increase the burden with more expenditure rather than focussing on savings? All the political parties which were in power since the past two decades are responsible for this situation'.
Trouble began for Andhra Pradesh since the bifurcation happened in 2014 as Hyderabad, which generates most of the revenue in United AP, has fallen in Telangana territory. AP Leaders failed to obtain the compensation required to lay a strong foundation. Even the crucial promises such as Special Category Status for 5 years wasn't implemented by the Centre.
Certainly, Yandamuri Veerendranath has got a valid point. The going gets tough for any Government if the finances aren't managed properly. YCP Government need to focus more on revenue generation. That's the only way to bail out AP from the financial crisis.
The Renowned Novelist questioned, 'If the revenue is around Rs 55,000 crore and the free schemes implemented by the Government require Rs 50,000 crore, How can anybody expect sufficient funds for other activities? To pay the debts, Government has been borrowing loans. It is not even in a position to pay Rs 25,000 crore debt since an year. FRBM limit crossed 3.5 percent and that's an alarming sign. When the state is in a financial crisis, How could the Government increase the burden with more expenditure rather than focussing on savings? All the political parties which were in power since the past two decades are responsible for this situation'.
Trouble began for Andhra Pradesh since the bifurcation happened in 2014 as Hyderabad, which generates most of the revenue in United AP, has fallen in Telangana territory. AP Leaders failed to obtain the compensation required to lay a strong foundation. Even the crucial promises such as Special Category Status for 5 years wasn't implemented by the Centre.
Certainly, Yandamuri Veerendranath has got a valid point. The going gets tough for any Government if the finances aren't managed properly. YCP Government need to focus more on revenue generation. That's the only way to bail out AP from the financial crisis.
