Begin typing your search above and press return to search.

Did Nirmala Sitharaman Say YCP Took Fewer Borrowings?

By:  Tupaki Desk   |   31 July 2023 5:16 PM GMT
Did Nirmala Sitharaman Say YCP Took Fewer Borrowings?

The ruling YSRCP and severe criticism of growing debts in the state is a never-ending story. Ever since the YCP came to power in 2019, it has been targeted by the opposition parties and a few experts that it is going over the board in taking borrowings.

Earlier, we have seen how the opposition parties expressed concerns about the debts. Taking the example of Sri Lanka, they said that the state might become another Sri Lanks if the measures are not taken on time. On the other hand, the AP wing of the BJP is also targeting the YCP on debts.

YSRCP rebel MP Raghu Rama Krishnam Raju raised the debt issue in the Parliament and sought the details of the same. But the response of the concerned Minister stunned everyone and a big debate is going on.

A debate is going on in the state about whether Union Finance Minister Nirmala Sitharaman said that the YCP govt took fewer borrowings than the previous TDP government. The details she told in the house hint at the same.

As per the media reports, Nirmala Sitharaman reportedly said that by the time TDP's tenure ended and YCP came to power, the debt of the state stood at Rs 2,64,451 crores in 2019 and now the state debts stand at Rs 4,42,442 crores. It's been four years since YCP came to power and during the same, it took borrowings of Rs 1,77,991 crores.

The data announced by Nirmala Sitharaman can be seen as a big relief to the YCP on the criticism it has been facing on the debts. In four years, YCP took fewer debts and the ruling party can use the same data to counter the criticism. It can have a big breather.

On the other hand, it can be mentioned here that YCP has been spending the major budget on flagship schemes covering various sections. No matter what, the government is not taking a back step on the schemes. However, looking at the data, we have to say that the current ruling state took fewer borrowings despite implementing welfare schemes like no other party.