VIJAYAWADA: The State BJP unit on Thursday took the issue of alleged financial irregularities being committed by the YS Jagan Mohan Reddy government to the notice of Governor S Abdul Nazeer.
A BJP delegation, led by its State president D Purandeswari, sought the intervention of the Governor in the matter. It demanded a white paper on the State borrowings, outstanding payables, mortgaged assets and diversion of funds.
Purandeswari said the debt burden of the State had increased by Rs 7.44 lakh crore in the last four years. “The total outstanding debt burden of the State has increased to Rs 10.77 lakh crore, including Rs 3.68 lakh crore debts incurred in the previous TDP regime,” the State BJP chief said.
Purandeswari alleged that the State government had resorted to dubious means to raise debts. “Debts are being raised through corporations that do not have any income. AP Beverages Corporation was awarded an AA+ rating by an agency called ACUTE and corporations like APCRDA and APSPDCL were downgraded to B. The intent behind AP Beverages Corporation being awarded AA+ was to raise Rs 11,600 crore from the market through bonds. But since no investor was ready to subscribe to the bonds, the government had to face embarrassment,’’ she explained.
On the diversion of funds, Purandeswari said as per the Finance Commission, 13,369 panchayats in the State had to receive Rs 7,882 crore. Having learnt about the diversion of funds, the Centre had directed the State to open Public Financial Management System accounts to transfer the funds directly.
“Despite the directions, the funds are being diverted in the guise of outstanding electricity bills and LED bulb maintenance,’’ she said and urged the Governor to look into the matter.