Jagan slams TDP-led govt on borrowings

Amaravati, Jun 2 (PTI) YSRCP chief YS Jagan Mohan Reddy on Monday alleged that the TDP-led NDA government in just one year availed a debt equivalent to 44 per cent of the total borrowings of the previous YSRCP government between 2019-2024.

The former chief minister said that the state government had no achievement to show with respect to development or welfare.

Citing figures from the Comptroller and Auditor General (CAG) and Ministry of Statistics and Programme Implementation (MOSPI), Reddy said that the fiscal deficit (state deficit) to Gross State Domestic Product (GSDP) ratio rose from around 4.08 per cent under the previous YSRCP government to over 5.12 per cent under the NDA government.

"In just one year, your Government availed a debt equivalent to 44 percent of the total debt our Government availed in five full years. This is despite the fact that during this one-year period, your (N Chandrababu Naidu) Government had nothing to show for, with respect to development or welfare," said Reddy in a post on 'X'.

The former CM noted that the revenue deficit jumped from 2.5 to 3.5 per cent, while the debt-to-GSDP ratio reached over 35.64 per cent, the highest since the Covid-19 pandemic.

Reddy said that under the YSRCP rule, 33.25 per cent of borrowings went to capital expenditure, but under TDP, only 23.49 per cent was used for development purposes.

The previous YSRCP government had to borrow more only during pandemic-induced disruptions, while TDP escalated borrowings without such circumstances, indicating inefficient financial governance, he said.

Reddy accused the Naidu-led NDA government of increased reliance on loans for revenue expenditure, further burdening the state without visible outcomes in welfare or infrastructure.

"Naidu garu you claim that you possess decades of experience as CM and your so-called deep understanding of governance, but what have those decades of experience delivered?," said Reddy in the post.

There was no immediate reaction from the ruling TDP. PTI MS STH KH