FM Buggana to Opposition: Don’t ignore facts on AP’s debts

Says borrowings rose to Rs 2.69L cr from Rs 1.2L cr under TDP regime

Published: 28th December 2022 05:53 AM  |   Last Updated: 28th December 2022 05:53 AM   |  A+A-

Finance Minister Buggana Rajendranath

Finance Minister Buggana Rajendranath

By Express News Service

VIJAYAWADA: Ridiculing the statements of TDP chief N Chandrababu Naidu, former minister Yanamala Ramakrishnudu and other leaders on the debts of Andhra Pradesh, Finance Minister Buggana Rajendranath has termed the Opposition an expert in manipulating figures in its favour, ignoring the facts.

Reiterating that the mistakes, debts and pending bills of the previous TDP regime had only caused hardship to the State, Buggana, in a statement issued on Tuesday, said the debts of the erstwhile combined AP up to 2014 stood at Rs 1,20,556 crore. The debts increased to Rs 2,69,462 crore during the TDP five-year tenure after the State bifurcation.

“It means, there is a 124% increase in debts in the five-year rule of the TDP (2014-19), compared to the debts made by successive governments in 58 years after independence,” he pointed out, adding that despite facing Covid crisis, the YSRC government, apart from clearing the debts made during the TDP regime, had borrowed to the tune of Rs 3,82,165 crore by March, 2022. When compared to 2019, the rise in debts during the YSRC regime is 42% only, he explained.

Yanamala mentioned the State debts as Rs 8 lakh crore, in a press note released on October 6, and in another press note issued on December 25, he put the figure at Rs 6.38 lakh crore after the government revealed the figures. “The former minister will definitely understand the facts once the government conducts another press meet and explains the facts,” Buggana felt.

Stating that the TDP government made borrowings of not less than 4% every year during 2014-19 even as the 14th Finance Commission put the FRBM limit for the State at 3%, the Finance Minister revealed that the YSRC government made 2.1% debts only in 2021-22 (during the Covid pandemic) against the 15th Finance Commission’s FRBM limit of 4.5%.

Stating a total of Rs 1.85 lakh crore aid was extended to people after the formation of YSRC government, he highlighted the fact that Rs 1.35 lakh crore was directly credited into the bank accounts of BCs, SCs, STs and minorities under various welfare schemes. A total benefit of  Rs 1.45 lakh crore was provided to people under the non-DBT. “This reflects its commitment to the welfare of the poor and downtrodden,” he asserted.

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