(Image source from: timesofindia)

Huge Fund crunch in Andhra Pradesh: Newly formed Andhra Pradesh has been struggling for funds while the Chief Minister Chandra Babu Naidu has been busy getting investors for the new state. Water Resources Department has been finding new ways to get loans from the financial institutions to execute the irrigation projects in the state. The state has been facing huge crunch and is running out of time to complete the promised irrigation projects. Water Resources Department through AP Water Resources Development Corporation (APWRDC) has been finding funds from banks and other sources.

Eight of the 28 irrigation projects are ready for inauguration. State Finance department gave its nod for AP Water Resources Development Corporation (APWRDC) to take loans as the Fiscal Responsibility and Budget Management (FRBM) Act is not allowing the state government to get more loans. APWRDC is in plans to get Rs 10000 crores for the completion of the promised projects in the state.