Naidu govt firm on legal action against YSRCP for financial mess
YSRCP counters allegations, claiming they are a diversion tactic from failed election promises
image for illustrative purpose
Vijayawada: With a series of white papers released by the TDP-led NDA Government tightening the noose around the neck of YSRCP leaders, former Chief Minister YS Jagan Mohan Reddy and his party has termed as an attempt to divert public attention from the failure to implement ‘Super Sixes’ and other promises made by the coalition in the run-up to the general elections.
The State, 10 years after bifurcation, is witnessing an unprecedented slanging match between the TDP and its allies and the YSRCP, which faced a crushing defeat in the May 13 elections to the Assembly and the Lok Sabha. The government has already ordered a CID probe with the support of the Enforcement Directorate into alleged irregularities in the excise policy implemented during the YSRCP Government.
Chief Minister N Chandrababu Naidu alleged a loss of Rs 18,860 crore to the exchequer due to the decision to allow sale of less known and low-quality liquor brands.
Release of separate white papers on finances, Amaravati, Polavaram, excise, mining and electricity distribution companies alleged exposure of serious financial irregularities and corruption during 2019-24. Naidu said, “Funds meant for various programmes were diverted while the public property had been mortgaged to raise loans. By June 2024 the debt burden on the State was a whopping Rs 9,74,556 crore and this is likely to go up much further.”
Naidu further added, “Telangana is marching ahead in several sectors like industry, farming and infrastructure...all this because of more urban areas, including the metro city of Hyderabad. I am happy that both are Telugu States and in a way I am satisfied because Telangana is continuing the development for which I had laid the foundation. But here we have to start again from the scratch.”
Expressing concern over the inordinate delay in completing the Polavaram project and wastage of funds on unnecessary expenditure, the Chief Minister felt that the State is almost on the verge of bankruptcy. The previous government had mortgaged the public property and also raised loans indiscriminately, he said. The per capita loan liability in AP is Rs 1.44 lakh, Naidu alleged.
YSRCP president and Pullivendula MLA YS Jagan Mohan Reddy dismissed the allegations as ‘false and fabricated’ aimed at tarnishing the image of his party and to divert public attention from the failure of the coalition in implementing its promises like free bus travel for women and other guarantees.
Finance Minister in YSRCP Government Buggana Rajendranath said in Hyderabad that white papers released by Naidu as ‘cover-up’ reports than genuine facts and figures. He alleged that the Chief Minister is making a mockery of the concept of white papers by indulging in blame game without spelling out his action plan for development and submitting a full-fledged budget and implementing ‘Super Six’ guarantees.
On the other hand, veteran TDP leader and former Finance Minister Yanamala Ramakrishnudu said the State is now under a total debt burden ofRs 14 lakh crore.
