VIJAYAWADA:
TDP president
, the chief minister in waiting, N Chandrababu Naidu likely to release a
white paper
on
financial situation
of Andhra Pradesh soon after assuming the office. Naidu is going to take oath as chief minister on Jaune 12 at Amaravati.
The TDP has been alleging that the YSRC govt has raised debts beyond the repaying capacity of the state. Naidu indicated in the maiden press conference after winning the election that no one knows about actual situation of the state finances.
We have brought some issues to the light and media exposed some of the financial mismanagement of YSRC govt. However, the complete information is not available in public domain to assess actual financial situation of the state, he said.
Naidu further said that the YSRC govt has raised debt by pledging future revenues of liquor and mortgaging govt assets. We have to see as to how many assets have been mortgaged and how much debt raised either giving guarantees or from corporations. Naidu said that an in-depth study has to be done to bring out all the hidden information as the YSRC govt is known for keeping everyone in the dark by not publishing even the govt orders.
Naidu is known for doing a comprehensive review of all key departments and releasing white papers. Sources said that this time also, the first white paper to be released by him will be on state finances.
Neelayapapem Vijay Kumar, the official spokesperson of TDP said that not even one financial indicator is satisfactory in Andhra Pradesh. In fact, every indicator is raising alarm bells as the YSRC govt has been raising equal amount of debt to its revenues. In 2023-24 financial year, the YSRC govt has raised Rs 6000 crore debt on average per month while the state own revenues stood at Rs 8400 crore per month. The state govt is paying Rs 2400 crore per month as interest on existing debt, he said. According to him, Andhra Pradesh is having more than Rs 11 lakh crore debts including the pending dues to be paid to contractors, debts raised through corporations, funds utilised in employees provident fund account and from various accounts of govt institutions.
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