Jagan Quotes CAG Figures to Underline Fiscal Stress in AP
According to Jagan, the state’s revenues, including tax and non-tax receipts, have grown by just 3.08 per cent in 2024–25, a year in which the Centre reported a 9.8 per cent GDP growth and revenue growth of 12.04 per cent.
Vijayawada: Former chief minister and YSR Congress president Y.S. Jagan Mohan Reddy on Saturday accused the N. Chandrababu Naidu-led NDA coalition government of pushing Andhra Pradesh into a deeper financial crisis while making tall claims of reviving the economy.
In a statement on the social media platform X on Saturday, he cited the recent data from the Comptroller and Auditor General (CAG) of India, while mentioning that the fiscal situation of the state continues to remain stressed, with revenue growth sluggish and liabilities mounting at an alarming pace.
Jagan said, “During the five years of our (YSRC) government (2019–24), the opposition kept alleging that our welfare policies had crippled the state’s finances. They (Telugu Desam and JSP) promised the people that their stewardship would ensure robust revenue growth and a steady reduction in debt. But a glance at their own record exposes their failures,” he remarked.
On the debt front, the former CM pointed out that the pace of borrowings under the TDP-JSP administration far outstrips what his government had contracted. “Between 2019 and 2024, Andhra’s liabilities increased by ₹3,32,671 crore. Shockingly, the current government has borrowed ₹1,86,361 crore within just 14 months, which amounts to 56 per cent of our five-year borrowing. This is unsustainable,” he maintained.
According to Jagan, the state’s revenues, including tax and non-tax receipts, have grown by just 3.08 per cent in 2024–25, a year in which the Centre reported a 9.8 per cent GDP growth and revenue growth of 12.04 per cent. “If Andhra Pradesh’s economy is indeed growing at 12.02 per cent, as the TDP-JSP government claims, why have state revenues risen by only 3.08 per cent,” the former CM asked.
Jagan mentioned that the fiscal distress has continued into the current fiscal year. “The first four months of 2025–26 show no recovery. In fact, GST and Sales Tax collections, which reflect consumption levels, are lower compared to the same period last year, which itself had been subdued,” he stated.