AP set to be another Nigeria under YSRC rule
total debts are not indicated in the budget thus taking the people for a ride, says TDP leader Yanamala Ramakrishnudu
image for illustrative purpose
The latest CAG report clearly indicated that the total debts of the State reached abnormal levels and the State capital touched an all-time low. The State revenue too has fallen drastically with the GSDP level confined to single digit
Vijayawada: Leader of the House in AP Legislative Council Yanamala Ramakrishnudu is of the strong opinion that if Y S Jagan Mohan Reddy continues as the Chief Minister, Andhra Pradesh will soon turn into another Nigeria.
The TDP leader and former Finance minister said in a statement on Thursday that in the past three-and-half years, Jagan Mohan Reddy totally devastated the State with no development in any field. Several people who were in various kinds of professions lost their livelihood and he has pushed Andhra Pradesh into a serious crisis, Ramakrishnudu alleged.
"If a similar situation continues for some more time, the State will witness an unimaginable catastrophe,"' he stated. With development coming to a standstill and the people bearing heavy financial burden, it will not be a surprise if Andhra Pradesh turns into another Nigeria or Zimbabwe, Ramakrishnudu said.
The latest Comptroller and Auditor General (CAG) report clearly indicated that the total debts of the State reached abnormal levels and the State capital touched an all-time low. The State revenue too has fallen drastically with the GSDP level confined to single digit, he pointed out.
The total debts are not indicated in the budget thus taking the people for a ride, the former Finance minister said. The 15th Finance Commission has pulled up the State government on these issues, he said adding that in the past three-and-half years the State government's borrowings touched a whopping Rs 8 lakh crore following which the State has to pay over Rs 50,000 crore as interest alone, Ramakrishnudu pointed out.
The TDP leader said the interest amount may cross Rs 1 lakh crore soon and wanted to know how development is possible when interest burden reaches such alarming proportions.
