Buggana slams false campaign’ on state debts

Vijayawada: Finance minister Buggana Rajendranath Reddy alleged that some self-proclaimed financial experts are making false allegations on the financial condition of the state. He said that though the previous TDP government made huge borrowings these so-called economists failed to point out.

Speaking to media persons at the Secretariat on Thursday, the finance minister said some people are trying to create hurdles in the way of Central government help to AP though false campaign. He alleged that a section of media is also resorting to false campaign. He said when union finance minister Nirmala Sitaraman gave a statement on AP debts stating that state’s debts stand at Rs 4.42 lakh crore during 2022, all the vested interests were shocked as they had been carrying out the false campaign of Rs 10 lakh crore debts. He said that there is wide publicity for BJP president D Purandhareswari’s remarks on state finances.

Since YSRCP came to power in 2019, some people started false campaign on state finances, he said. All those who failed to raise their voices on state finances in the past two decades now trying to malign the image of state government to create hurdles in Central financing to AP. He said that all these ‘financial experts are non-residents of AP and they are residing in Hyderabad, he said.

The minister said as per the statement of Union finance minister Nirmala Sitaraman in Parliament the liabilities of AP government stand at 2,64,450 crore during 2019, which increased to Rs 4,42,442 crore which shows an increase of just Rs 1,77,991 crore. The finance minister said during 2014-19 the TDP government’s debts increased by 14.7 per cent, while the increase in debts during the Jagan Mohan Reddy government’s four-and-a-half years rule was 12.4 per cent.