VIJAYAWADA: TDP politburo member Yanamala Ramakrishnudu dared the Jagan government to release a green paper on the "deepening financial crisis, massive loans and rising poverty levels" in Andhra Pradesh. He demanded that the Chief Minister face a wide public debate on all factors that were leading to economic bankruptcy in the State.
"There is a rising threat to the State from excessive loans, welfare cuts, increased poverty, declined investments, under-development, heightened unemployment and overall retrogression in every sector," he observed.
In a statement issued on Saturday, the TDP leader said the economic inequalities had gone up from 38 per cent to 43 per cent under the YSR Congress rule. "Even the per capita income has declined by 1.4 per cent. Savings of the poorer sections dwindled abnormally. On the other hand, freebies are being withdrawn amid increasing taxes and 'forcible OTS collections'," Yanamala alleged.
Yanamala expressed concerns that the off-budget borrowing had risen above the market loans of the Andhra Pradesh government. "The capital expenditure on productive assets has come down alarmingly. Unlike anywhere else, the revenue deficit has gone past the fiscal deficit. The revenue receipts witnessed a fall while the government guarantees went up from 90 per cent to 180 per cent," he said.