Yanamala Slams YSRCP Govt for Resorting to Heavy Borrowings
By : DC Correspondent
Update: 2024-04-06 17:23 GMT
Vijayawada: Telugu Desam politburo member Yanamala Ramakrishnudu slammed the YSRC government for getting permission from the Centre to raise loan to the tune of Rs 20,000 crore before June 4 in the current fiscal 2024-25, leaving a little chance for the new government to get the loans.
In a statement issued here on Saturday, the TD senior leader stated that the YSRC government was trying to take one third of the loan in the first two months for the current fiscal and added that this would deprive the government which would assume power after elections, the opportunity to raise loans to meet its requirement in the current fiscal.
He said that the Jagan Mohan Reddy government raised loans to the tune of Rs 70,000 crore in 2023-24 and in the last five years, he raised Rs 13 lakh crore loans. Referring to the Comptroller and Auditor General of India report, he said that in the last fiscal, the Jagan Mohan Reddy government raised Rs 93,805 crore at the rate of Rs 257 crore per day and added that the quantum of loan raised was more than what was informed to the Assembly in the budget and also more than two fold of FRBM limits. He alleged that in addition to the already raised loans, the Jagan Mohan Reddy government raised more loans causing trouble to the new government.
The TD senior leader Ramakrishnudu said that at the time of previous Telugu Desam government handing over charge to the new government in 2019, AP’s revenue deficit was Rs 13,000 crore and by February, 2024, it had gone up to Rs 53,000 crore while the fiscal deficit had gone up to Rs 77,000 crore from Rs 35,000 crore.