₹14 lakh crore debt is a small part of State’s financial picture, says Yanamala Ramakrishnudu
The accounts pertaining to 2020–2021 and 2021 -2022 are yet to be finalised, and the accounts of corporations have not been audited by the Comptroller and Auditor General of India, he says
The State’s financial system has been destroyed by the YSRCP government, says Yanamala Ramakrishnudu.
| Photo Credit: File Photo
Former Finance Minister and TDP Polit Bureau member Yanamala Ramakrishnudu reiterated that the State’s debt piled up to a staggering ₹14 lakh crore in the last five years, and insisted that it was only a small part of the sordid picture of finances that Chief Minister N. Chandrababu Naidu unveiled through a White Paper on July 26.
Addressing the media at the TDP office, near Mangalagiri in Guntur district, on July 27, Mr. Ramakrishnudu said the State’s financial system had been destroyed by the previous government, and former Chief Minister Y.S. Jagan Mohan Reddy did not have the courage to face the reality in the Legislative Assembly.
“The State has almost gone bankrupt due to the YSRCP government’s policies.,” he said.
The accounts pertaining to the Financial Years 2020–2021 and 2021 -2022 were yet to be finalised, and the accounts of some corporations were not audited by the Comptroller and Auditor General of India. The funds mobilised under the head, Ways & Means, amounted to ₹1,04,000 crore.
Andhra Pradesh stood in the 10th position among the States as far as the capital expenditure was concerned. Sustainable development remained a mirage due to the government’s negligence in achieving the goals thereof, he said.
Mr. Ramakrishnudu said poverty had gone up in 2019-24, notwithstanding the huge borrowings made by the YSRCP government. All that money was apparently wasted. The open market borrowings alone stood at ₹2.26 lakh crore, he added.
Mr. Jagan Mohan Reddy should at least now learn the basics of the economy and finances, and refrain from spreading lies, the TDP leader suggested, while asserting that the present government couldn’t move a full-fledged Budget in the Assembly without having a comprehensive assessment of the situation.
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Andhra Pradesh
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state politics
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finance (general)