Debt in Andhra Pradesh stands at Rs 9.74 lakh crore, says CM Chandrababu Naidu
VIJAYAWADA: Chief Minister N Chandrababu Naidu on Friday revealed that the State incurred a debt of Rs 9,74,556 lakh crore under the previous YSRC government. Listing the components of the debt, Naidu explained it includes Rs 4.3 lakh crore State debt, Rs 80,914 crore Public Account Liabilities (PAL), Rs 2.47 lakh crore corporations debt, civil supplies debt of Rs 36,000 crore, power sector debt of Rs 34,267 crore, Rs 1.13 lakh crore outstanding dues to vendors and Rs 21,980 crore dues to employees.
Participating in a discussion on the Budget in the State Legislative Assembly, the Chief Minister said anyone who has doubts regarding the numbers can verify the account books.
Charging the YSRC administration with financial mismanagement, Naidu said the previous government did not take any initiative in the direction of wealth creation.
“Looting was committed in a novel manner in the past five years and institutions were damaged. The mistakes and debts of the YSRC government have become a curse for the State,” he remarked.
The Chief Minister said per capita income dropped drastically, while expenditure shot up significantly due to the inefficient governance of the YSRC. He added that growth rate decreased to 10.6% in 2023-24 from 13.5% in 2018-19.
House-warming will be organised for one lakh units in December: Naidu
Further, Naidu accused the previous government of introducing anti-development policies and schemes to scam people, ransacking public properties and imposing high taxes.
Stating that no wonders will improve the situation of the State overnight, Naidu opined that more attention needs to be paid to fulfil people’s expectations.
“With the Centre’s assistance, we have saved the State which was on a ventilator,” Naidu told the Assembly explaining in detail the destruction caused to the State by the previous government.
Recalling the precarious situation of the State following the bifurcation in 2014, the Chief Minister said there were doubts if salaries and pensions could be paid on time. “The TDP and the BJP contested the polls in 2014 and the then government strived hard with the close cooperation of the people. We even overcame power scarcity of 22.5 million units without revising tariff even once between 2014 and 2019, he highlighted.
Naidu asserted that in addition to the Super Six promises, more welfare schemes and programmes will be implemented. Further, the Chief Minister announced that a separate legislation will be enacted to deal firmly with social media abuse. He informed the House that 300 acres have been allocated for the drone hub, while necessary land has been allotted for the railway zone.
“Very soon foundation stone will be laid by the Prime Minister and house-warming will be organised in December for one lakh houses,” Naidu said and reiterated that the State government will create wealth and distribute it to the poor.