The andhra pradesh government's financial struggles have stymied the completion of Rs 6,400 crore in road and bridge building projects funded by the New Development Bank. The sluggish pace of development has irritated andhra pradesh chief minister jagan mohan reddy-Latest Updates, Photos, Videos are a click away, CLICK NOW'>ys jagan mohan reddy, who has ordered the Finance Department to increase its efforts in this area.

In january 2021, the NDB, the Department of Economic Affairs at the Centre, and the ap government inked a tripartite agreement for Rs 3,200 crore each for the ap Roads and Bridges Reconstruction Project and the ap Mandal and Rural Connectivity Improvement Project. A year later, the two projects have hit a serious snag because Andhra Pradesh's Finance Department does not have enough cash on hand to meet the state's obligations, according to a top official.

With government sources suggesting that the NDB may rethink the loan, the chief minister summoned Finance Department officials and ordered them to resolve all project impediments as soon as possible to end the standoff. According to reports, the Union government has been keeping a close eye on these important externally assisted projects and pushing the state to step up things, but to no avail.

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ap government financial crisis

SIBY JEYYA

17/01/2022 10:30 AM