RAJAMAHENDRAVARAM: Taking a dig at the YSRC government for its “poor financial management”, former MP and senior leader Undavalli Arunkumar on Saturday said Chief Minister YS Jagan Mohan Reddy “failed miserably” in his two-and-a-half year’s rule.
A day after the Comptroller and Auditor General (CAG) report on State finances was tabled in the Assembly, Undavalli lashed out at the Jagan government for taking debts left, right and centre. “It is time for the Chief Minister to realise his mistakes and take stringent measures to set right the economy,’’ he observed.
Blaming the YSRC government for the poor financial situation of the State, Undavalli predicted that the State government would face a severe economic crisis if it fails to take corrective steps as soon as possible.
“The government had increased the cap on corporation guarantee for loans from the present 90 per cent to 180 per cent. This is nothing but finding a way to take more loans,’’ he criticised. Undavalli said the State now has debts to the tune of Rs 6.22 lakh crore and of them, Rs 3.50 lakh crore was incurred by the Jagan Mohan Reddy regime alone.
“The loans taken by the Jagan Mohan Reddy government in one year are equal to those taken by the previous TDP government in five years,’’ he said and added that even after taking so many loans, the prices of liquor, sand and essential commodities were on the rise and there was no development at all in the State.
There was no discussion in the Assembly on the poor financial situation of the State. “Assembly sessions are an opportunity for the Opposition to corner the government. In this case, it was the Opposition TDP which side-lined the main issues and walked out of the House,’’ he alleged.
“What is the need for Naidu to come out of the House and weep at the press meet? He should have stayed in the House and countered the ruling party rather than keeping himself away from the House,’’ Undavalli opined. On the withdrawal of the three-capitals Bill, Undavalli described it as a failure of the government.
“Even after having so many advisors, the government said it had withdrawn the Bills on technical grounds. Does it mean that the government had failed to come out with a proper Bill?’’ he sought to know.