Hyderabad: The state government in one of its biggest steps in recent months issued a new schedule for rs of 4,000 crore bonds.
Money is likely to be used to implement the Rythu Bandhu scheme for the coming season, said high government sources.
“When preparation for next summer it has begun, crediting a farmer account with Rythu Bandhu money should begin now,” said an official.
Previously, the state raised the RS 2,000 Crore in bonds in October this year.
Despite increasing revenue from GST and other sources, the state government spends Rs 1,500 crore flowers and other mandatory monthly payments.
In July, the country borrowed the execution of the scheme and transferred RS 7,360 Crore into a more than 60 lakh accounts that met the panties.
‘The financial situation is under control’ previously increased RS 2,000 crore used to meet the increase in costs for the implementation of several initiatives, but the funds for the Dalit Bandhu scheme are still needed.
While in the first seven months of fiscal year, the state borrowed more than Rs 30,000 Crore.
In the past two months, the state almost raised Rs 2,000 Crore in bonds because income increased.
Facing the need for finance to pay salaries under the new RRC, the state delayed making a decision about the new Asara Retirement Scheme.
Given the state resources, state administration has requested the center to increase the loan limit under financial responsibility and budget management (FRBM) acting from 4% to 5%.
“The financial situation is controlled, even though we are increasing additional bonds because the state maintains a discipline from the early years of formation,” said the highest official.