Hyderabad: Deputy Chief Minister Mallu Bhatti Vikramarka is seeking help from the Union government to address the financial difficulties faced by the State.
The Deputy CM met with Union Finance Minister Nirmala Sitharaman in New Delhi. During the meeting, he informed her about the State’s current economic situation and asked for the release of pending funds under the AP Reorganization Act and other provisions.
Bhatti also requested the Union Minister to reschedule the non-budgetary loans that were borrowed by the previous BRS government. He mentioned that these loans amount to Rs 31,795 crore and were taken at a high interest rate, which has placed a heavy burden on the State.
The Deputy CM asked the Union Finance Minister to reduce the interest rate on these loans to provide some relief to the State. Additionally, he raised eight pending issues with Nirmala Sitharaman, including the payment of power dues by Andhra Pradesh to Telangana and the release of long-pending grants to the backward districts of the State.
In response, the Union Minister assured that she would soon hold a meeting with State officials to resolve these pending issues, according to the Deputy CM.
