As the YSR Congress Party launched a scathing attack on the TDP government alleging it pushed the State into deep financial crisis, Finance Minister and TDP Polit Bureau member Yanamala Ramakrishnudu sought to turn the tables holding the former and the BJP responsible for the grim situation of State finances.
In a statement on Tuesday, the Finance Minister alleged that the YSRCP and the BJP did not allow the State government to function smoothly.
They created all possible hurdles with an evil intention of pushing the government to a corner.
FRBM limit
The BJP leaders opposed the requests from the State government to increase the Fiscal Responsibility and Budget Management (FRBM) limit.
But, the FRBM limit was increased to Telangana, Karnataka and Gujarat States, he pointed out.
The State government always followed financial discipline and fiscal prudence. The debts were always confined to 3% of the GSDP limit.The outstanding debts were ₹1,92,687 crore by March this year.
UDAY bonds
The Centre thrust ₹8,256-crore UDAY bonds burden on the State. During the last five years, the debt burden was ₹95,564 crore. In other words, the burden was ₹19,111 crore per annum, he said.
Andhra Pradesh was shouldering debt burden of more than 58% based on population.
The State government was still clearing the debts taken by the Y.S. Rajasekhara Reddy government in combined Andhra Pradesh.
The bifurcation burden was ₹97,163 crore on the State. Had the Centre cleared ₹16,000 crore revenue deficit during the first year after birfurcation in 2014, the State would have come out of 80% of the debts.
The Centre released mere ₹4,000 crore in instalments during the last five years.
‘Naidu’s vision’
Despite all hardships, Andhra Pradesh could march ahead of others because of the vision and planing of Chief Minister N. Chandrababu Naidu.
Tax revenue
The tax revenue did not increase during the last five years on expected lines. However, the revenue and capital expenditure, and the gap between inflow and outflow increased, he said.