The State, instead of witnessing development in the last one year as is being claimed by the YSRCP, has gone bankrupt, the opposition TDP has alleged. The YSRCP government, unable to manage the finances, was resorting to blame game, TDP Polit Bureau member and Leader of the Opposition in Legislative Council Yanamala Ramakrishnudu alleged in a statement on Sunday.
‘Waste of money’
He said development had come to a grinding halt. There were no attempts to create wealth and all expenditure was on unproductive heads, he observed. The government wasted ₹4,000 crore on YSRCP workers under the garb of village/ward volunteers and village/ward secretariat staff and for painting party colours on government buildings, he alleged.
Had these funds been spent on the Polavaram project, another 10% works could have been completed, he said. While ₹16,128 crore was allocated for irrigation, only ₹3,566 crore was spent. The ₹1,850 crore released by the Centre for Polavaram were diverted to non-productive programmes, Mr. Ramakrishnudu alleged.
“Revenues were nil during the last fiscal. The fiscal and revenue deficits went up. The burden of interest and future payments increased phenomenally. The government neglected the gross fiscal capital formation,” he said. The revenue receipts had up by 11.6% during the TDP term against 1.8% now. But borrowings increased by 135% in just one year against 30.70% during the TDP terms, Mr. Ramakrishnudu claimed.
