States »SoutPosted at: Jun 1 2021 7:13PM Jagan's two-year book a bundle of lies: Yanamala
Vijayawada, June 1 (UNI) Telugu Desam party senior leader and former Minister Yanamala Ramakrishnudu on Tuesday demanded Chief Minister Y S Jagan Mohan Reddy to explain why poverty levels, per capita debt and infrastructure gaps allegedly increased significantly if his two-year rule had spent heavily on welfare and development.
Mr Ramakrishnudu expressed the fear that AP would slip into economic chaos in the next one or two years considering the growing debt burden and decreasing revenues. "The budget may see just 2 to 3 per cent increase by next year but the debt servicing will rise by 100 per cent. The rise in GSDP-debt ratio to 36.46 per cent was a cause of greater alarm under the YCP rule", said.
Mr Ramakrishnudu said that the Chief Minister's book was nothing but a bundle of lies without proper information provided to reflect the factual position of the State in terms of growth rate, capital expenditure, debt-GSDP ratio, per capita income.
Addressing a press conference here, the TDP leader asked why Mr. Jagan Reddy failed to explain in his voluminous book about the reasons for increase in excise revenue even in the pandemic time when most other sectors like stamps and registration performed very poorly. The present regime was boasting of spending Rs.95,000 crore on welfare alone in the last 2 years. Then it should explain why the incomes of the poorer sections came down and why the economic inequalities rose sharply.
Mr Ramakrishnudu expressed shock and surprise how Mr. Jagan could bring out a book when he had the least patience even to discuss the basic economic and growth indicators like the GSDP, fiscal consolidation, etc on the floor of the AP Legislative Assembly. The present book was full of falsehoods and just a publicity stunt in order to hide the Chief Minister's inability to lead the State on the path of development.
The TDP leader asked how CM Jagan could talk about development and economy when his two-year regime had cut down capital expenditure by nearly 13 percent from 2018-19 to 2020-21.
The TDP leader deplored that the Jagan regime's reckless financial policies have now pushed the State outstanding debt to Rs.4.47 lakh crore at a time when the budget and revenues were coming down on account of the pandemic crisis.
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