Vundavalli Arun Kumar paints a bleak economic picture for Andhra Pradesh

Rajamahendravaram: Former MP Vundavalli Arun Kumar said that the state government will face a severe economic crisis if the government failed to take corrective steps. Speaking to the media here on Saturday, Arun Kumar said that the total burden of debts and interest on the state will be Rs 6.54 lakh crore by 2024 if this situation continued.

He said that in one year period, the YSRCP government had taken massive loans that were equal to the total amount of loans availed by the previous government in the state during its entire tenure. Launching a scathing attack on Chief Minister YS Jagan Mohan Reddy and TDP supremo N Chandrababu Naidu, the former MP said that Assembly is the highest platform in democracy to discuss the people's issues and not their own property.

Arun Kumar termed it 'insult to democracy' the announcement by Leader of Opposition in Assembly Chandrababu Naidu not to step into the House until he came to power over remarks by some ruling party members regarding his wife on the floor of House. "What is the need to weep? He (Naidu) has to sit in the Assembly and counter the ruling party's policies rather than keeping himself away from the Assembly. Why Chandrababu ran away from the Assembly. His party is mandated to sit in the opposition for five years. Unfortunately, he has taken a hasty decision which is harmful to democracy," the veteran politician remarked.

Arun Kumar pointed out that nobody dared to make adverse comments against the NT Rama Rao's family members and he had never heard till now in his 40-year political career such remarks.

He asked Jagan Mohan Reddy to set aside petty politics and invite Chandrababu Naidu to the Assembly to participate in the healthy debates.

On Y S Vivekananda Reddy's murder, the former MP said he remember that it was Jagan who first demanded CBI inquiry into the murder. He opined that Jagan was in no way linked to the murder of Vivekananda Reddy.

Describing the two-and-a-half years of Jagan Mohan Reddy rule 'disastrous', Arun Kumar pointed out that banks and financial institutions were not coming forward to extend loans to the state unless assets are mortgaged. He blamed the YSRC government for the bankruptcy of the state as it went on a borrowing spree in violation of the Constitution and FRBM guidelines.

He demanded the state government to release a white paper on the state financial situation in view of the alarming reports that the excessive loans taken by the YSRCP government were in violation of the rules and Fiscal Responsibility and Budget Management (FRBM) limits. Alleging that the YSRCP leaders were propagating lies on the loans, Arun Kumar predicted that financial position of the state will deteriorate further in coming months.

Replying to a question, he expressed surprise over the failure of YSRCP government to bring out a effective law on three capitals despite having so many legal advisors earlier and now announcing to bring out a comprehensive law soon. He said the government withdrew the Act as it realised that High Court would strike it down after hearing was over.