Leader of the Opposition in the Legislative Council and TDP politburo member Yanamala Ramakrishnudu on Thursday alleged that the State’s economy has suffered a downturn during the one-year rule of Y.S. Jagan Mohan Reddy.
Addressing a press conference on Thursday, Mr. Ramakrishnudu said Mr. Jagan does not have basic understanding of how a State or a country’s economy works. The State government could not sustain the double-digit growth rate of 11.02% achieved during TDP rule. Now it has fallen to 8%, and Andhra Pradesh, which used to be in the third position in the country with regard to contribution to the Gross Domestic Product (GDP), has slipped to the ninth place due to “the self-destructive and debilitating economic policies” of the YSRCP, he said.
The previous government succeeded in increasing the per capita income from ₹ 93,000 to ₹1.64 lakh.
‘Debt burden on rise’
The average loans taken during the previous government were ₹24,000 per year, but the present government has taken loans amounting ₹80,000 crore in just a year, he pointed out.
AP emerged as a favourite destination for national and international investors during TDP rule but the its image took a beating after the YSRCP came to power. Highest priority was given to crippling of systems and institutions, he alleged.
How the State could get income when YSRCP leaders were exploiting and plundering all natural resources from sand to minerals, he asked. The police machinery was weakened and subjugated to protect the ruling party’s interests. Orders and judgments of the courts were not being adhered to. Government money was being distributed to YSRCP activists by giving them volunteer posts, the TDP leader alleged..
The ruling party’s intention was to hijack elections by using money and muscle power, he added.