Rs 12,000 Cr Belong To AP/Telangana?

Posted : November 1, 2014 at 7:09 pm IST by ManaTeluguMovies

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Andhra Pradesh and Telangana are all set for big battle. After slugging it over power distribution and water sharing, the two states are likely to clash for cash. Around Rs 12,000 crore cash and undisclosed amount of cash in the form of fixed deposits in various banks in Hyderabad will be the next source of big fight between AP and Telangana, say political pundits. Already the recent “transfer” of over Rs 400 Crore to Andhra Pradesh by AP Building and Other Construction Workers’ Welfare Board’s CEO Murali Sagar has sparked off a huge row and even kick started an ugly spat between two states.

While Telangana ordered banks to seize the bank accounts involving joint accounts and directed not to approve any funds transfer, it even warned to initiate civil and criminal action in case banks violate these orders. Meanwhile, TDP-led AP government too swiftly taking steps to avoid “misuse” of “joint funds” by TS govt. Alleging that TRS is trying to get major share of joint funds and cash deposits lying in bank accounts of the National Institute of Electronics, AP Foods, National Academy of Construction and Tourism and Hospitality Institute.

Reports have it that TDP government has already issued orders to all departments to ‘protect’ the money and assets that rightfully belong to the state without being “misused” by TS state. Meanwhile, AP CS IYR Krishna Rao met governor ESL Narasimhan on Friday morning and briefed him about the action of the Telangana government in ‘detaining’, ‘gheraoing’ its labour official on Thursday. Mr Krishna Rao reportedly told the governor that AP did nothing wrong in transferring Rs 400 crore from a bank account in Hyderabad to another in Vijayawada.

“The account belonging to the labour department has Rs 1,463 crore. Of this, AP’s share is Rs 850 crore and Telangana’s 613 crore. AP only transferred the cash from its share,” Krishna Rao is believed to have told Narasimhan. With this new debate has been raked up by both governments of AP and Telangana which is expected to get ugly day-by-day. It’s time for Centre to quickly divide the funds among the two states legitimately.