JSP demands CAG probe into ‘reverse borrowing’ by YSRCP govt
Jana Sena Party PAC Chairman Nadendla Manohar addressing a press conference in Vijayawada on Monday. Photo: Ch Venkata Mastan
Vijayawada: The YSRCP government headed by Chief Minister YS Jagan Mohan Reddy raised Rs 91, 253.39 crore in the name of ‘reverse borrowing’ and nobody knows what happened to that money, said chairman of the Political Affairs Committee of Jana Sena Party Nadendla Manohar.
Addressing the media here on Monday, Manohar said that the officials were in a quandary to explain what happened to the funds and how to reveal the accounts during the forthcoming budget session of the Assembly from February 4.
The government named the unaccounted fund as ‘reverse borrowing’. Manohar said that the debt raised through reverse borrowing was not diverted to the government schemes, construction of projects or other schemes. But the state government claimed that it had raised debts only Rs 1.72 lakh crore during the last 4.5 years.
The whole issue came to light while preparing the budget. Manohar said that only the heads of the government and the principal secretary of the finance department knew the truth of where the money had gone.
According to Manohar, during 2019-20, the government raised through reverse borrowing Rs 17,391.43 crore, during 2020-21, the reverse borrowing was Rs 30,764.27 crore, during 2021-22 it was Rs 33,843.69 crore and in 2022-23 the reverse borrowing was Rs 9,253.90 crore.
Referring to the Chief Minister’s slogan ‘Siddham”, Manohar asked the Chief Minister whether he was ready to discuss reverse borrowing and the failure in the administration. He invited the Chief Minister to Kshetrayya Kalakshetram for discussion on various issues in the presence of the media.
He quipped that the people were already ‘Ready’ to send the chief minister home.
Manohar strongly condemned the placement of punching bags before the pictures of opposition leaders at Visakhapatnam which is nothing but instigating people to resort to violence.
Manohar clarified that plans are afoot to start tours of the party supremo Pawan Kalyan across the state including public meetings, and meetings with leaders and party activists.