Hyderabad: Senior BJP leader Gudur Narayana Reddy on Sunday said that the state has been heading towards financial ruin and urged the Centre to intervene immediately to discipline the state government.
In a media statement, he said that the financial condition of the state government has been deteriorating by the day.
"The debt of the state government has crossed Rs 4 lakh crore. It has been paying about Rs 1,400 crore every month towards interest, which is a bad reflection on the state of affairs," he said.
Reddy said that it was time to check the financial performance of the state government lest it lead to further disaster. He said that there was a need to impose strict restrictions on borrowings so that the debt on the government comes down.
He urged the Centre to amend legislation to regulate the financial activities of the state government.