YSRCP chief Jagan slams Andhra govt over ‘fiscal distress’, cites CAG figures

Amaravati, Aug 23 (PTI) YSRCP supremo Jagan Mohan Reddy on Saturday claimed that Andhra Pradesh’s revenue under the TDP-led NDA government grew by only 3.08 per cent year-on-year in 2024–25, citing CAG figures that, he said, reflect a “continuity of fiscal stress.” Reddy noted that the state’s performance was dismal when compared with the Centre, which had projected a national GDP growth of 9.8 per cent and recorded a corresponding revenue growth of 12.04 per cent during the same period.

“A mere glance at the performance of the TDP alliance government on the fiscal front exposes their failures. During the financial year 2024–25, the year-on-year growth of the state government’s own revenues (including tax and non-tax revenues) was only 3.08 per cent,” Reddy claimed in a post on 'X'.

He questioned the government’s claims of rapid economic growth, adding: "If Andhra Pradesh’s economy is really growing at a pace of 12.02 per cent, as falsely claimed by the TDP alliance government, why would state government revenue growth be as low as 3.08 per cent?” Reddy said many had expected signs of recovery in the current fiscal, 2025–26, but the first four months of the year “also indicate the same distress.” “Goods and Services Tax and Sales Tax reflect consumption, and the aggregate of GST revenues and Sales Tax revenues was lower during the first four months of this financial year compared with the corresponding period last year—when performance was already subdued,” he claimed.

He further alleged that considering the compounded annual growth rate (CAGR) of revenue over the first four months of fiscal 2023–24 and 2025–26, “the situation is even more distressing as the state’s own revenue is growing only at 2.39 per cent when it should normally be around 10 per cent.” On state debt, the YSRCP leader said that after factoring in all categories of liabilities—public debt, public account, state government–guaranteed PSU debt and non-guaranteed PSU debt—the growth of liabilities between 2019 and 2024 under his regime was “only a little over Rs 3.3 lakh crore.” “However, the aggregate liabilities contracted during the first 14 months of the TDP alliance government are worryingly high at Rs 1,86,361 crore—56 per cent of what the previous government borrowed over five years,” he claimed.

“With revenue growth being very low and debt increasing at an astronomical rate, the N Chandrababu Naidu-led alliance government must seriously rethink its governance model, which is allegedly leading to rampant corruption at all levels,” Reddy added.

He also accused the TDP and Janasena of “continuously lying” during YSRCP’s tenure, alleging that the two parties had claimed unchecked growth in liabilities, negligible capital expenditure, and slowing revenues.

“In fact, the TDP and JSP (Janasena) committed to the electorate that they would ensure state government revenues grow very rapidly and that state debt would grow at a very slow pace in their government,” he alleged, contrasting their promises with what he called their “poor performance” in office. PTI STH SSK