Somu Veerraju demands White Paper on Andhra Pradesh’s financial position
The Hindu
‘YSRCP govt. borrowed ₹1.15 lakh crore in just two years’
Bharatiya Janata Party State unit president Somu Veerraju has demanded that the government release a White Paper on the State’s precarious financial position reflected by its inability to even make timely payment of salaries on the one hand and mounting public debt on the other. In a letter to Chief Minister Y.S. Jagan Mohan Reddy on Thursday, Mr. Veerraju said the debt which was ₹97,123 crore at the time of bifurcation of the unified State of Andhra Pradesh, ballooned to ₹2,62,225 crore in the FY 2018-19 and a whopping ₹3,73,140 crore now owing to what he termed gross mismanagement of government finances. He alleged that the YSR Congress Party government borrowed ₹1.15 lakh crore in just two years compared to ₹1.65 lakh crore raised by the TDP government during its five-year stint. The present government was in such dire straits that it had to borrow ₹5,000 crore every month to keep itself afloat. Loans amounting to ₹56,000 crore were raised by various corporations, he alleged.More Related News