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AP State paying 1,000 cr as interest on loans: Yanamala Ramakrishnudu

AP State paying 1,000 cr as interest on loans: Yanamala Ramakrishnudu
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It is like adding insult to the injury, the state government has been experiencing bitter financial crisisas the Central government did not honourits...

Amaravati: It is like adding insult to the injury, the state government has been experiencing bitter financial crisisas the Central government did not honourits promises.

The Minister for Finance Yanamala Ramakrishnudu, in a press release here on Friday,stated that the State government forced to pay more than Rs 1,000 crore as interests to the loans taken for construction of Polavaram Irrigation project.

Since the Central government did not respond properly to complete the project as was promised in the AP ReorganisationAct, the State government has been spending the money in advance and urging the Centre to reimburse it, in order to save the time.

Since, the Central government did not approve the Revised Detailed Plans of Polavaram Project proposed by the State government, the issue has become further problematic.

Ramakrishnudu said that the Central government gave only Rs 14,273 crore out of the actual dues of Rs 17,338 crore from 2014 to 2018. He demanded the Central government to release Rs 3162 crore due amount of project immediately.

He further said that the Central government did not even release the Revenue Deficit fund estimated at Rs 16,076 crore before bifurcation of the state. He also added that the Central government has to release at least Rs 1,000 crore to the capital city Amaravati for construction works, as promised by them.

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