Naidu makes AP bankrupt, CMRF cheaques bounce

     Written by : SMTV24x7 | Mon, Apr 22, 2019, 11:02 AM

Naidu makes AP bankrupt, CMRF cheaques bounce

Amaravati, Apr 22: In a desperate bid to ensure victory for TDP in Assembly polls and become Chief Minister of Andhra Pradesh for the second term, TDP president and AP CM N Chandrababu Naidu has doled out cash transfer schemes just before April 11 polling to various sections of people left, right and centre without taking into account the financial implications on the state exchequer in the coming days.

The disastrous consequences of Naidu's cash dole out schemes are being felt in AP even before the election results are announced. The cheques issued to beneficiaries under Chief Minister's Relief Fund (CMRF) are getting bounced due to lack of funds in bank accounts of CMRF.

CMRF is considered to be the 'emergency fund' in which there will never be a dearth of funds. But Naidu's indiscriminate cash dole outs just before polling with an intention to buy votes using public funds, even the CMRF funds got exhausted.

CMRF cheques are issued to poor people who avail medical facilities in corporate and private hospitals but cannot afford to pay bills on their own. TDP MLAs distributed CMRF cheques to beneficiaries in all the districts just before polling on April 11.

These beneficiaries who are now depositing the cheques in banks to claim the benefit are shocked to get notices from banks informing that the CMRFcheques have been bounced due to lack of sufficient funds in government accounts.

In India, cheque bounce is a criminal offence and liable for jail term and penalty. Private individuals face criminal cases for cheque bounce. But in this case, the AP government itself has become a defaulter.

Banks are clueless on how to initiate legal action against AP government for issuing cheques to beneficiaries without ensuring adequate balance in its bank accounts.