VIJAYAWADA: Former Chief Minister YS Jagan Mohan Reddy accused the TDP-led NDA government of violating key provisions of the Indian Constitution with its planned issuance of Non-Convertible Debentures (NCDs) by the Andhra Pradesh Mineral Development Corporation (APMDC) scheduled for June 24, 2025.
In a strongly worded post on X, Jagan claimed that the move breaches Articles 203, 204, and 293(1), allowing private entities unauthorised access to the State’s Consolidated Fund without legislative consent.
He alleged that the government has pledged mineral wealth valued at Rs 1.91 lakh crore to NCD holders, a decision he describes as ‘cheating the people’. He further highlighted an ongoing case in the Andhra Pradesh High Court, where notices have been served on respondents, questioning the government’s decision to proceed with the bond issuance amid sub-judice proceedings.
“It is indeed very disheartening that the government is acting with total disregard to the Constitution of India, and the future of the State,” the YSRCP chief observed.