‘AP’s financial position is not sound’
By Express News Service | Published: 11th January 2017 04:36 AM |
VIJAYAWADA: Finance minister Yanamala Ramakrishnudu has revealed that the financial position of the state is alarming and they will have to search for alternative measures to curb revenue losses and also reduce expenditure to overcome the financial crisis. However, at the same time, he maintained that they are going to introduce a jumbo budget for the next fiscal.
Despite facing cash crunch, the government is implementing all welfare schemes and will have to make the required allocations in the coming budget and it will be a big budget. However, he declined to inform the exact quantum of the upcoming budget.
Speaking to mediapersons at the Interim Government Complex in Velagapudi on Tuesday, he attributed the financial crisis to extraordinary increase in revenue deficit.