Reducing Interest Rates Could Save Andhra Pradesh ₹7,000 Crore, Says CM Naidu
The Andhra Pradesh Chief Minister N. Chandrababu Naidu has asked officials to start talks with banks on reducing interest rates. He said reducing interest rates could help the State save nearly ₹7,000 crore over the coming years. Naidu reviewed the government’s financial position during a meeting in Vijayawada and stressed the need for smarter money management.
He told departments to speed up the use of Central funds. Around ₹1,170 crore is available from various schemes, and the CM wants all departments to complete utilisation by December 20. He said delays weaken development programmes and reduce the State’s chances of getting more funds in the future.
Naidu also reminded officials to cut wasteful spending and improve financial discipline. He said every department must track its commitments and ensure that payments are cleared on time. Strong coordination between Finance, Planning and major departments will help the State handle essential projects better.
The CM said Andhra Pradesh must explore all possible savings, including better negotiations with banks, quicker clearances and tighter monitoring of loans. He added that the government will continue focusing on transparent financial practices that support growth and stability.
