Chandrababu Naidu takes stock of fiscal situation for full state budget

It is learnt that Naidu enquired about the total debts of the State, and the debts it made in the last five years of the YSRC regime.
Andhra Pradesh Chief Minister N Chandrababu Naidu
Andhra Pradesh Chief Minister N Chandrababu NaiduPhoto | Express

VIJAYAWADA: Chief Minister N Chandrababu Naidu on Wednesday held a key meeting with officials to take stock of the financial situation of the State. This comes in the wake of the government’s plan to convene the Assembly session to present the full-fledged budget for the financial year 2024-25 and to fulfil the poll promises made to the people.

The previous government introduced the vote on account budget in March this year. Now, the new government has to present a full-fledged budget for the current financial year.

It is learnt that Naidu enquired about the total debts of the State, and the debts it made in the last five years of the YSRC regime. The officials were also asked to assess the total bills pending to contractors in various departments.

The officials are said to have suggested that an ordinance be passed in the Assembly to extend the vote on account for three more months rather than going for a full-fledged budget in the view of the precarious finances.

Meanwhile, Naidu also discussed the issues to be raised in the white paper on finances that his government has proposed to release, with the officials. He also held discussions on the white paper on excise policy that will be released in the coming days.

Meanwhile, former Finance minister Yanamala Ramakrishnudu criticised the previous YSRC regime for neglecting the energy and industrial sectors and also construction of Polavaram project and Amaravati capital. “The YSRC government has derailed the agriculture sector. The growth rate of the sector has slumped to 6.14% from 12.85% during the five year tenure of the YSRC government,’’ he pointed out.

Yanamala also alleged that many farmers were driven to suicide due to mounting debts because of the poor crop yields as the previous regime totally neglected the completion of pending irrigation projects.

With regard to aqua sector, he said it witnessed growth in previous TDP regime in terms of exports as well as the extent of cultivation. “In Jagan’s tenure, the cost of production has doubled and the aqua sector is in distress now,’’ he said.

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