Raise slogans on 'misuse' of Rs 94,399 Cr

TDP rally outside Assembly over 'financial crisis'

Opposition lawmakers slam Jagan regime

Raise slogans on 'misuse' of Rs 94,399 Cr

Massive public funds spent without budget approval

AP multi-crore funds going to Tadepalli treasury

AMARAVATI (prajaamaravati): TDP MLAs and MLCs took out a protest rally outside the AP Assembly here on Friday demanding the Government to clarify on the Rs. 94,399 Cr expenditure made without getting necessary budget approvals.

The TDP legislators led by party National General Secretary Nara Lokesh, state president Atchannaidu and Payyavula Keshav raised slogans in protest against the YCP regime's 'scams and frauds'. They held placards and banners, asking what happened to the massive multi-crore loans brought by the Government in the past three years.

The rally by TDP legislators was taken out as the day marked the introduction of the budget by the Finance Minister in the House today. The opposition members held Jagan Reddy's misrule solely responsible for the financial bankruptcy and economic slowdown in Andhra Pradesh. The State's 'arthika rathachakrallu' (wheels of State economy) were totally burnt.

The TDP MLAs raised doubts whether the unaccounted Rs. 94,399 Cr public funds had found their way into the Tadepalli palace treasury. While the people of the State found their incomes going down, the ruling YSRCP leaders have filled their personal treasuries. An average family in AP was not able to lead a smooth life because of price rise, decreased incomes and increased taxes.

The TDP lawmakers recalled that the Government was even afraid of forming the fiscal council. The Government was not following fiscal consolidation and budget manuals. As a result, the State's financial performance was very bad even as deficits and debts had increased manifold in the past three years. The growth rate had slipped from 10.22 percent to -2.58 percent, causing a financial crisis.

Expressing concern, the TDP MLAs said that contrary to the ruling YCP leaders' claims, AP stood in 19th place in DBT (direct benefit transfer) schemes. Economic inequalities increased and capital expenditure came down. The YCP rule brought massive loans of over Rs. 4 Lakh Crore but there was no development. Even the Polavaram project was put in cold storage.

The TDP legislators recalled how the Jagan Reddy Government had totally mismanaged the State finances. The AP State used the special drawing facility, ways and means advances and overdrafts for several thousands of crores. AP became the worst hit of all the States in terms of the financial crisis. It stood in first place in ways and means advances and over drafts. The YSRCP regime was trying to bring more multi-crore loans without any financial discipline.

The TDP MLAs and MLCs had slammed the Government for using even the Coronavirus pandemic as a pretext to bring more loans. All these massive loans were only misused for the scams that were committed in the name of welfare schemes, thereby pushing the State into a deeper financial mess.

The opposition legislators deplored that not even the North Eastern States have witnessed such a deep financial bankruptcy that AP was facing now. Tamil Nadu, Karnataka and Orissa were showing financial discipline. Large States like Maharashtra, Madhya Pradesh, Gujarat and Bihar had also maintained utmost financial restraint. But the YCP regime in AP had totally destroyed the State's finances and economy.