VIJAYAWADA: Refuting the charge of opposition TDP on huge debts, Finance Minister Buggana Rajendranath has asserted that Andhra Pradesh is one of the best States in the country in terms of low fiscal deficit. Though the fact is that debts have come down during the YSRC regime, the opposition and a section of the media had unleashed a false propaganda against the Jagan Mohan Reddy government. It was unfair on part of the opposition to accuse the State government of misleading the Centre, he said.
The Finance Minister said the State had borrowed Rs 25,000 crore only against the proposed Rs 30,000 crore debt in the last year budget. But the Opposition did not believe the report of the Comptroller and Auditor General (CAG) on the State’s borrowings, he rued.Furnishing the figures, Buggana said the fiscal deficit of the State was 4% of GSDP on an average during the previous TDP regime (2015-19). The fiscal deficit declined to 2.10% of GSDP in 2021-22 under the YSRC government. With a fiscal deficit of 2.10% of GSDP, AP has emerged as one of the best performing States in the country, he explained.
Speaking to mediapersons at the Secretariat on Friday, Buggana said the State had fared well despite the Covid-19 pandemic and the debt was well under control, compared to the previous regime. The annual debt growth rate was brought down from 19.2% during the TDP regime to 15.77% in the YSRC government, he elaborated.
Slamming the Opposition for comparing the State with Sri Lanka, he reminded that the government had disbursed Rs 1.46 lakh crore to people under the Direct Benefit Transfer ( DBT ) schemes and spent another Rs 44,000 crore on Non-DBT schemes. NREGS works worth Rs 27,448 crore were executed in the last three years, while the total amount spent on implementation of the scheme during the TDP regime was Rs 27,340 crore only. The average rate of interest on loans during the TDP regime was 8% and it was brought down to 7% under the YSRC rule, he highlighted.
Buggana flayed the opposition for launching a malicious propaganda on the 14th and 15th Finance Commission funds. The rank of Andhra Pradesh in exports has gone up to 4 now from seven in 2019-20. Hence, it was evident that TDP and its friendly media were constantly and blatantly misleading the people on State finances, he averred.