Andhra's former minister alleges State government borrowed "Rs 1,12,750 crore" in six months, warns of financial instability - World News Network

Amaravathi (Andhra Pradesh) [India], December 29 (ANI): Buggana Rajendranath Reddy, former finance minister of Andhra Pradesh, criticised the TDP-led coalition government, accusing it of driving the state into a financial crisis through reckless borrowing and unfulfilled promises, according to a press statement issued on Sunday.
Addressing the media at Hyderabad Press Club, Buggana revealed alarming statistics and alleged that the state has borrowed an unprecedented Rs 1,12,750 crore in just six months, setting a record in Andhra Pradesh’s history. He warned that this debt-driven governance threatens the state’s financial stability and burdens future generations.
Buggana highlighted the stark contrast between the current administration and the previous YSRCP government, which maintained fiscal discipline and focused on welfare-oriented governance.
He pointed out that during the YSRCP’s tenure from 2019 to 2024, the state’s debt grew at an average rate of 15.61 per cent, significantly lower than the 19.54% during the previous TDP regime from 2014 to 2019. He criticised the TDP’s financial mismanagement and questioned its commitment to sustainable development.
The former minister also criticised Chandrababu Naidu’s penchant for grandiose “vision documents,” such as the recently unveiled Vision-2047. Drawing parallels with earlier promises like Vision-2020 and Sunrise Andhra Pradesh, Buggana labelled this as empty rhetoric designed to mislead the public. He argued that Naidu’s so-called visionary leadership has consistently failed to deliver tangible outcomes, and the current administration’s track record appears no different.
Buggana also pointed out the lack of implementation of the TDP’s much-publicised “Super Six” promises, including unemployment allowances and free gas cylinders. He criticised the coalition government for failing to allocate sufficient budgetary resources for these initiatives, leaving them as mere election slogans. He further exposed the alarming rise in off-budget borrowings, including Rs 31,000 crore for Amaravati development, warning that these hidden debts will further strain the state’s finances.
The former finance minister questioned the media’s silence on these issues, accusing certain outlets of being biased and failing to hold the coalition accountable for its financial recklessness. He contrasted this with the YSRCP’s governance, emphasising that his party treated its manifesto as a sacred document and fulfilled key welfare promises. Schemes like Amma Vodi, Rythu Bharosa, and Aasara directly transferred over Rs 4.2 lakh crore to the people, ensuring that public resources reached those in need.
In conclusion, Buggana Rajendranath Reddy called on the public to scrutinise the TDP-led coalition’s governance and hold it accountable for its extravagant borrowing and lack of transparency. He reiterated that the YSRCP remains committed to the welfare of the people and sustainable governance, urging the media and citizens to rise above propaganda and focus on facts. (ANI)

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