Andhra faces uphill task to foot the bill for freebies

Hyderabad: With the series of sops announ­ced over the last two-and-half months needing a whopping Rs50,000cr, YSR Congress Govt in Andhra faces an uphill task of raising more resources.

With the resource gap already at Rs 45,000 crore, the freebies announced since May 27 may further add to the burden on the public exchequer, deepening the fiscal crisis.

The YSR Congress Party (YSRCP) Govt announced many schemes to implement its poll promises but it has not come out with plans to mobilize the required resources.

Analysts say controversial moves like reserving 75% jobs for locals in all indust­ries, review of Power Purchase Agreements and terminating one of the contracts for Polavaram project may further affect the investment climate and impact the efforts to generate revenues.

By Mohammed Shafeeq

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