YS Jaganmohan Reddy Government To Terminate Irrigation Projects Worth Rs 50,000 Crore
By Swarajyamag 01-Jun-2019
Andhra Pradesh chief secretary LV Subrahmanyam on Wednesday (29 May) issued orders to cancel the projects awarded before 1 April. He said that many engineering works were sanctioned due to the relaxation of the Fiscal Responsibility and Budget Management (FRMB) norms and caused a huge burden on the state exchequer.
He pointed out the need for a “thorough review of ongoing projects as priorities have not been followed.” While the government has decided to cancel the works sanctioned before 1 April, they have not grounded them.
Both private and public banks would now see a significant portion of their loans turn into non-performing assets (NPAs) and are searching for a solution to the problem, including initiating insolvency proceedings, sources close to the developments said.
क्या कांग्रेस का महागठबंधन से अलग रह के चुनाव लड़ने की वजह से बीजेपी को पूर्ण बहुमत मिला है?
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