CAG BLAMED AP SARKAR

 

Amravati, April 6,(globelmedianews.com):
The Andhra Pradesh government on Friday introduced the CAG report in the Assembly.According to the CAG, the state government has earned only Rs 4 crore in earning of Rs 8975 crore invested in various banks by 2016-17.In 2016-17, the average cost of these investments was only 0.05.The state government will have to pay a total of 768888 crore debt by March 31, 2017. It has been reported that it has been burdened by the government budget for that years.Clearly, 271 projects completed by March 31, 2017, but the projects are not completed. As a result, the project cost estimates increased by Rs 28,000 crore.The CAG said that as of late March 2017, there were 110 crores left due to delay in old projects and new schemes.


CAG BLAMED AP SARKAR

It is estimated that the DPR could not use the central assistance of 455 crore due to the delay.Completed Works ..The state government did not initiate 7 schemes.Seven other schemes were stopped in the middle.As a result, 491 crores were lost.The Uday  Scheme, the government released 8256.101 crore and 6464.39 crore loan liabilities remained. The CAG has so far not issued any newly issued bonds.The CAG has made clear to the government that the debt is rising and financial control is not right.With higher interest payments on liabilities, placing large amount of money into Peddy's accounts indicates a poor cash flow.The average compensation rate for investments is 0.05.In many cases, the audit has been wrong, such as the state government's lack of financial regulation and lack of financial control. The CAG has stated that the education system in Andhra Pradesh government schools is worse.

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