TD leader slams Andhra Pradesh government over diversion of borrowed funds
Amaravati: The Andhra Pradesh government diverting borrowed funds raises questions as to how the state will develop in such a scenario, a Telugu Desam Party (TDP) politburo member said.
TDP leader Yanamala Ramakrishnudu noted that the state stood only 19th in the country in terms of direct benefit transfers (DBT), even as the lion's share of the 2023-'24 budget, more than Rs 54,000 crore, was declared to have been dedicated for welfare.
Ramakrishnudu, a former finance minister, observed there were no great budgetary proposals and said there was no comparison between the allocations and actual expenditure on the ground.
"Ultimately, the people have to bear this debt burden and the interest to be paid. The budgetary proposals clearly indicate that the Jagan government did not give any preference for development and welfare even in its last year of tenure," Ramakrishnudu said in a statement late on Friday.
The opposition leader alleged that the Jagan Mohan Reddy government in Andhra did not give priority to welfare and development in the last fiscal as well and predicted that the southern state's debt burden will overshoot Rs 11 lakh crore by the time the ruling party demits office.
He also alleged that investors were not willing to set up units in the state as all revenue generating sectors are badly affected while unemployment had skyrocketed. He further said the government's policies badly affected the farming, industrial and service sectors.