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Cong accuses CM of pushing AP into debts
APCC Vice-President Dr N Tulasi Reddy has accused Chief Minister N Chandrababu Naidu of pushing the state deep into debt crisis with his fiscal indiscipline, inefficient administration and indulging in wasteful expenditure.
Vempalli (Kadapa): APCC Vice-President Dr N Tulasi Reddy has accused Chief Minister N Chandrababu Naidu of pushing the state deep into debt crisis with his fiscal indiscipline, inefficient administration and indulging in wasteful expenditure. He expressed apprehensions over Adarsh Andhra Pradesh becoming Appula Andhra Pradesh (debt-ridden AP).
In a release on Saturday, he pointed out that the total borrowings constituted 28.11 per cent of the Gross State Domestic Product (GSDP), registering an increase from the earlier 20.91 per cent. The budget for 2017-18 allocated Rs 14,768 crore towards debt servicing, he lamented. The state inherited a debt burden of Rs 1 lakh crore at the time of the bifurcation. During the past three-and-a-half years, the Chief Minister pushed it further by resorting to borrowing of Rs 1,26,000 crore.
