AP's Debt Put at 4,28,715 Crore, FM Says Naidu's Term Saw AP Having More Debts

Vijayawada: AP finance minister Buggana Rajendranath has said the debt of Andhra Pradesh government has increased by 22 per cent during the five-year rule of the Telugu Desam government from 2014 to 2019.

A sum of Rs.2,71,797 crore in debt was incurred by AP during the TD tenure. During the term of the YSR Congress government, a debt of only 12 per cent of the state GDP was incurred in four and a half years.

Rajendranath said the opposition was spreading lies about the economic situation of AP. TD chief Chandrababu Naidu is spreading such canards, he said.

Addressing the media on Thursday, Rajendranath said Naidu's political philosophy and ideology were to create hype with debts. The decisions of Naidu were harmful to the growth of the state, he alleged.

The minister said the pro-TD media was misleading the people with false and baseless reports on the state’s debts. “Some say the YSRC government pushed the state into a Rs.7 lakh crore debt, while some others say it was a Rs.8 lakh crore debt while Naidu says it was as high as Rs.13 lakh crore. All these are all baseless allegations,” the minister said.

The FM said the total debt of the government as of 31 March 2023 was Rs.4,28,715 crore. The debt incurred during the term of the previous government was Rs.2,71,797 crore, which should be deducted from the present figure, the minister said.

Rajendranath said that during the Covid pandemic, the state government revenue did not increase. “The central government has also given a very clear answer to the questions raised by some members of Parliament about AP debts.”

Rajendranath said injustice was done to the state even after the 2014 bifurcation without a rationalization of the assets and liabilities of the state. “Chandrababu did not care about anything after he came to power in 2014. During the five years of TD, the state suffered in all aspects and in all fields,” he argued.

He said the biggest blunder made by Naidu was in taking up implementation of the Polavaram project, instead of leaving the job to the Centre. “Naidu said the state government would construct the Polavaram project. The project works were done without adherence to the rules and Naidu gave top importance to commissions (kickbacks).”