BJP stresses on CDRA to contain AP's debts

Ongole (Prakasam District): Andhra Pradesh BJP political feedback secretary Lanka Dinakar emphasised the need for the establishment of a Central Debt Regulatory Authority (CDRA), just like the Electricity Regulatory Authority in the country to control the State governments from taking loans beyond their limits and capacity.

Responding to a press meet of the Advisor to State government about the State's financial management, Dinakar observed it is just financial illiteracy to compare Central finance to State finance. He alleged that the government led by Chief Minister YS Jagan Mohan Reddy is leading the State towards a record-level debt of Rs 10 lakh crore at rocket speed.

Dinakar demanded the Finance Minister and Advisors to the State government on the abnormal changes in the figures of accounts of March 2022 when compared with February 2022. He said the State government finance cannot be compared with that of Union government, as the latter does not change the income and debt figures just like the AP did.

The BJP political feedback secretary alleged that the State government is not able to provide the 5 kg rice to the eligible beneficiaries to overcome the difficulties of the impact of Covid-19 under PM Garib Kalyan Yojana, but raised Rs 25,000 crore as loans during the last three years by civil supply corporation.

He further alleged that the State is not releasing Arogyasri bills to the hospitals in time. He also said that the State has failed to join the race of completing 20 lakh houses allotted to the poor in the State and even matching grants for the Jal Jeevan Mission to provide safe drinking water to the public.

Dinakar said the State has submitted improperly adjusted monthly indicators to CAG in March 2022 to suppress revenue deficit and fiscal deficit, show abnormal revenue and disclose debt of the State erroneously.

He opined that the introduction of Central Debt Regulatory Authority is the need of the hour, as the RBI and Central government are ringing danger bells to alert the AP government of financial indiscipline in the governance.