AP Working Hard to Improve Financial Conditions, Says Payyavula Keshav
Keshav gave a presentation in the assembly on the state’s financial situation. He also cited the differences between the previous and current governments.
Vijayawada: Finance Minister Payyavula Keshav has said the state government is working hard to set the state’s financial conditions right, as it was “badly damaged” during the last five years.
Addressing the state assembly on Tuesday during the motion of thanks to the Governor, Keshav said everyone has recognized the difficult circumstances in which the budget was presented this time. “But, the YSR Congress legislators, who did not come to the assembly, are criticising it from outside.”
The FM said, ”They are not able to come to the assembly because they are haunted by their sins. They are unable to show their faces to the assembly due to a fear that their past mistakes would be listed in the house.”
The YSRC, he said, caused the state’s economic destruction in the last five years. “They focused only on suppressing the opposition. They are now limited to 11 seats because they snatched away the poor’s food by closing the Anna Canteens.”
“They say that funds were not allocated for the Veligonda project. But, they had claimed earlier that the project was completed and that it was dedicated to the nation. What allocations should be made for a completed project,” the minister asked.
Keshav gave a presentation in the assembly on the state’s financial situation. He also cited the differences between the previous and current governments.
Keshav said,”It is not wrong on our part to borrow funds. The loan taken by AP should be used for capital investment -- and productivity should be increased.”
He recalled that when Naidu was in power, the agriculture sector’s growth was 16 per cent and the services sector grew by 12 per cent. After Jagan came to power, the growth of the agriculture and services sectors fell by 3 per cent.”
The minister stated that if this three per cent had been added, an additional Rs 76,000 crore could have been generated by the previous government.
He said that if the state had an income of Rs 154,065 crore, the expenditure was more -- Rs 154,971 crore. “The previous government pushed the state into such a financial predicament. The income received is sufficient to meet the expenses.”
Keshav said, “If the borrowing capacity increases, the power to invest in projects will increase.”
