BJP demands explanation on state’s revenue

Vijayawada: BJP state president Daggubati Purandeswari demanded the state government to explain the basis for its submission to the Reserve Bank of India stating that its revenue was Rs 15 lakh crore.

Addressing the media here on Tuesday, Purandeswari sought a white paper by the state government on its finances in the light of the statement issued by Union finance minister Nirmala Sitharaman.

Recalling that NIrmala Sitharaman informed Parliament giving reply to member of Parliament K Raghurama Krishna Raju that the state government was burdened with Rs 2.64 lakh crore in 2019 when the YSRCP assumed power. Subsequently, the burden has increased to Rs 4.41 lakh crore by 2023 after the YSRCP government raised debts of Rs 1.77 lakh crore during its four years rule.

Purandeswari pointed out that there is discrepancy between her statement and that of the Union finance minister. “I stated that there was a debt burden of Rs 10.77 lakh crore on the state government, including Rs 7 lakh crore raised by it during the last four years. However, the Union finance minister mentioned about the debt raised by the state government under the purview of the RBI only whereas I mentioned about the unauthorised debts raised by the state government.”

She pointed out that the state government raised Rs 98,928 crore by mortgaging the corporations, Rs. 98,000 crore by mortgaging the state government, Rs 9,800 crore through social security bonds, Rs. 10,000 crore through AP Financial Services, Rs 20,384 crore by way of arrears of discoms, Rs 35,000 crore from AP Civil Supplies Corporation, Rs 8,375 crore through liquor bonds, Rs 71 crore arrears to be paid to the small contractors, Rs 35,000 crore arrears to be paid to the government employees, Rs. 1,170 crore of deposits from various public sector undertakings, Rs 26,235 crore from Public Provident Fund, Rs 8,868 crore from the village panchayats, Rs 3,600 crore borrowed by APTransco and Genco, Rs 17,000 crore taken from GPF. In all, it was Rs 10.77 lakh crore, she said and asserted that she was stuck to the statement.

The state BJP chief said that she met Nirmala Sitharaman four days back and informed her about the debts of the state government. She expressed doubt over the details revealed by the state government regarding FRMB.

As per rules, the state government was allowed to raise Rs 40,000 crore depending upon its GDSP and it appears that the state government intentionally misled the RBI, she said.

The state government had shown its GDP from Rs 5 lakh crore in 2019 to Rs 15 lakh crore in 2023. How was this possible without any new industries or investments? She wondered.

Purandeswari demanded the state government to explain how the GDP has gone to Rs 15 lakh crore.