It's common knowledge that APSRTC is running in steep losses but not many know that it's incurring a whopping Rs 100 Crore loss to government every month. Now here is another startling revelation by the government of AP. Finance Minister of State Yanamala Ramakrishnudu made it clear that the condition of AP is worse than APSRTC's.
"We don't have any funds to cater to the constituency development fund for MLAs, the AP finance minister Yanamala Ramakrishnudu disclosed in the assembly today. "State govt is in financial crisis than the APSRTC," he said.
He added, "Despite acute financial crisis, we have not imposed any fresh taxes and instead we're trying our best to ensure that all poll promises are implemented without any dilution". "We have no plans to expand the Visakhapatnam airport but all set to promote a green field airport between Vizag and Kakinada". Yanamala said the cement producers have agreed to slash their market price for government projects. 'They have offered to give cement to all govt works at 30 % less'. Let's see how Naidu bails out the successor state of Andhra Pradesh.