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How Did AP's Debt Rise From Rs 90K Crore To Rs 2.50 Lakh Crore?
By: Tupaki Desk | 28 Aug 2018 10:18 AM GMT
When the state was bifurcated in 2014, it had a debt burden of Rs 90000 crore. Now, the debt burden has gone up to Rs 2.50 lakh crore. Why did the debt burden of the state rise so much? This is one question that Chandrababu Naidu is finding very difficult to answer. What did he do with this money? Where has the money gone?
Shooting off these questions, YSRCP MLA and senior party leader Gadikota Sriantha Reddy slammed Chandrababu for his wasteful expenditure. He wanted Chandrababu Naidu to release a White Paper on the spending during the last four years. He said due to Chandrababu Naidu's profligate ways, the common man is forced to carry an unbearable load of debt burden. "He is a chief minister or a stock broker or a market agent?" Gadikota asked. He said that Chandrababu Naidu has completely devastated Andhra Pradesh due to his wasteful spending during his earlier stint as chief minister. Now he has become the chief minister again and is back to his old ways, he said. He said Amaravati bonds are useless and would ruin the economy of the state. He wanted Chandrababu to reveal the names of those buying Amaravati bonds. Ridiculing the move to issue Amaravati Bonds, why is an exorbitant interest of 10.30 per cent being given to the bonds. He said these bonds will become an unbearable burden for Andhra Pradesh, he said.
He said while the Centre has given Rs 3000 crore for capital construction, Chandrababu Naidu had spent it on the consruction of temporary secretariat. The Centre has given Rs 9000 crore for Polavaram project. How was this amount spent," he sought to know.
He said Chandrababu was surrounded by people with questionable credentials. He said some of his ministers were loan defaulters and were involved in shady deals. With such men around, what good will Chandrababu do for the people of Andhra Pradesh, he asked.
Shooting off these questions, YSRCP MLA and senior party leader Gadikota Sriantha Reddy slammed Chandrababu for his wasteful expenditure. He wanted Chandrababu Naidu to release a White Paper on the spending during the last four years. He said due to Chandrababu Naidu's profligate ways, the common man is forced to carry an unbearable load of debt burden. "He is a chief minister or a stock broker or a market agent?" Gadikota asked. He said that Chandrababu Naidu has completely devastated Andhra Pradesh due to his wasteful spending during his earlier stint as chief minister. Now he has become the chief minister again and is back to his old ways, he said. He said Amaravati bonds are useless and would ruin the economy of the state. He wanted Chandrababu to reveal the names of those buying Amaravati bonds. Ridiculing the move to issue Amaravati Bonds, why is an exorbitant interest of 10.30 per cent being given to the bonds. He said these bonds will become an unbearable burden for Andhra Pradesh, he said.
He said while the Centre has given Rs 3000 crore for capital construction, Chandrababu Naidu had spent it on the consruction of temporary secretariat. The Centre has given Rs 9000 crore for Polavaram project. How was this amount spent," he sought to know.
He said Chandrababu was surrounded by people with questionable credentials. He said some of his ministers were loan defaulters and were involved in shady deals. With such men around, what good will Chandrababu do for the people of Andhra Pradesh, he asked.
