Amaravati Nov 10 : Chandrababu Naidu said, "We have no money for salaries to government officials. We are already running on a huge overdraft". Inspite of a hike AP is even not able to pay wages to its staff in this economic year.
The growth rate recorded 12.26 percent in the first quarter and approaching 15 percent annual growth.
An increase of 13.5 percent,the revenue of the state earnings Rs. 22,800 crore in 2016-17 financial year as against Rs. 20,166 crore in corresponding period last year.
All over the government estimated Rs. 4,868 crore revenue deficit in this particular year. "There is heavy pressure on government expenditure and adjustment of finances has become problematic," says Yanamala Ramakrishnudu, Finance Minister .
He also said,"We have reached the fiscal deficit but we are somehow pulling the cart either by borrowing or through internal adjustments". Yanamala pointed out that our state situation is still worse.
All around Rs.500 crore have been spent so far on the construction of the Government Headquarters and 100 crore for chief minister's residencies and offices.