RAJAMAHENDRAVARAM: Former MP Undavalli Arunkumar has demanded that the State government release a white paper on AP’s financial situation in view of the alarming reports that the YSRC government has taken loans in violation of the rules and in excess of the FRBM limits.
Speaking to the media on Saturday, Undavalli said the government was in such a position that it could not even pay the salaries to its employees. “Chief Minister YS Jagan Mohan Reddy owes an explanation to the people. The previous TDP and YSRC governments are responsible for the present situation and people would realise the fact at least now,’’ he said.
Arunkumar said the YSRC leaders were propagating lies on the loans taken by the State in just two years. He predicted that the State will plunge into its worst financial situation after March 2022 as the state government was taking massive loans disproportionate to its revenue.
“The contractors are reluctant to take up government construction and repair works. The State government has to pay Rs 95,000 crore to the contractors. Its credit rating has touched a new low,’’ he alleged.