Surplus Telangana Slips into Overdraft
The sales Surplus Telangana seems to have been hit very badly due to the demonetization. The country sales for November had fallen by means of 60% and the nation has no choice to go for an overdraft for the primary time.
The state government even opted to avail methods and means advances from RBI to mobilize budget. However then the price range are nonetheless not sufficient to fulfill the financial commitments and needs. So the government had searched for Overdraft facility from RBI in order that it could pay the salaries of the personnel and meet the other day after day prices.
Telangana set to go for overdraft to tide over present financial crisis
The situation is probably to move on for the subsequent couple of months at least. The government is estimating that it is going to be losing 3600 Crore profits due to the demonetization and is stressful that the center have to distribute the cash collected to it via demonetisation amongst all states within the ratio of at least forty two percentage. Leader Minister k Chandrasekhara Rao will take up the problem in his meeting with the top Minister Narendra Modi today.