Vijayawada: Ex-CS I Y R Krishna Rao rues financial indiscipline in the state

Vijayawada: Former chief secretary I Y R Krishna Rao expressed serious concern over the financial indiscipline in the state and said that it might lead to a deeper financial crisis soon.

Addressing the media at the BJP state headquarters here on Tuesday, the retired officer said that delay in the payment of salaries and pensions speaks volumes of the looming crisis.

He said that the government was mortgaging the government properties in Visakhapatnam which is clear evidence of poor financial management.

Krishna Rao recalled that the previous and the present governments raised loans worth Rs 5 lakh crore which would be burdensome to the people. "It was a grave mistake on the part of the state government to raise debts to distribute to people in the name of welfare."

He wondered as to why the government was distributing money to people and how long it would continue. What would happen if the distribution is stopped? If all the funds were used for welfare what would happen to the infrastructure development of hospitals, educational institutions, roads, drinking water supply, housing and others, he asked.

Referring to the debts raised by the BJP government at the Centre, he said that the Modi administration had not ignored the development.

He advised the YSRCP government to control the welfare measures and concentrate on development. Otherwise, the state would suffer heavy damage in near future, he warned.