Bharatiya Janata Party leader Gudur Narayana Reddy on Friday feared that the State was heading towards a severe financial crisis due to government’s financial indiscipline and all the schemes will come to a halt.
In a statement here, he said that due to rampant borrowing the total debt of the State has crossed ₹4 lakh crore and the State government is paying about ₹18,000 crore every year towards the interest and repayment of principal of the loans taken from various financial institutions and from the Reserve Bank of India. “Every month the salaries and pensions are delayed while thousands of crores of rupees worth bills are pending,” he said.
