VIJAYAWADA: YSRC Rajya Sabha MP V Vijayasai Reddy has said the financial position of Andhra Pradesh is far better than that of the Centre. AP is better placed than other rich States in terms of total debts, he asserted.
Speaking in New Delhi on Thursday, along with MP PV Midhun Reddy, Vijayasai said the debt-GDP ratio of the country stands at 67%, whereas it is just 32.4% for AP. Other States like Punjab (47%), Rajasthan (39.8%), West Bengal (38.8%) and Kerala (38.3%) have more than debt-GDP ratio of AP.
Condemning the TDP false propaganda that AP was turning into another Sri Lanka, he said the reason for the economic breakdown in the island nation is slump in exports and fall in remittances. In AP, the exports as well as remittances have increased and there is a growth in all sectors, he said.