BJP Andhra Pradesh unit president Daggubati Purandeswari has demanded that Chief Minister Y.S. Jagan Mohan Reddy should release a White Paper on the government’s debt that stands at a staggering ₹7,14,631 crore including an ‘unofficial debt’ of ₹4,74,315 crore.
That is the total borrowings by the YSR Congress Party (YSRCP) government in the last four-and-a- half years and roughly ₹50,000 crore is going towards debt servicing every year against the approximate annual revenue of ₹1,25,000 crore, Mr. Purandeswari pointed out, while addressing the media here on July 19 (Wednesday).
“The Central government has been warning the State against the consequences of its huge debt, especially the impact of loans raised from institutions other than the Reserve Bank of India (RBI). But, the State is continuing to borrow against norms to keep itself afloat,” she said.
Ms. Purandeswari said that the State government had borrowed huge sums by mortgaging its assets and misused the funds devolved by the Centre under various schemes. Besides, the State had diverted the funds given by Centre to panchayats. “The government did not even spare the funds intended for disaster management,” she said.
Worse than that, the State government made illegal recoveries from the General Provident Fund accounts of employees, to whom salaries were not being paid in time.
Ms. Purandeswari said the fact that there were thousands of contempt cases pending in courts (a large number of them in the High Court) reflected badly on the poor governance but no remedial action was being taken.
“The YSRCP government is not only steeped in debt but also mired in corruption,” she said.
Poll alliance
Referring to the possible alliances for the 2024 elections, Ms. Purandeswari said the BJP leadership would take a decision at an appropriate time and that she would sooner than later hold parleys with Jana Sena Party president Pawan Kalyan in this regard.
