Amaravati: Andhra Pradesh is finding it hard to pay salaries to its staff despite a hike in its revenues in the first half of the fiscal year.
The state recorded a 12.26% growth rate in the first quarter of the fiscal and is eyeing a 15% annual growth.
“We have no money for salaries. We are already running on a huge overdraft,” Chief Minister N Chandrababu Naidu admitted, bringing out ironies in the state’s economic story.
The state’s revenue earnings rose to Rs 22,800 crore in the first half of 2016-17 financial year as against Rs 20,166 crore in corresponding period last year, a 13.05% increase.