Andhra Pradesh heading towards weak economy under YS Jagan Mohan Reddy governance

Vishwa Bhaarath
Andhra Pradesh heading towards weak economy under YS Jagan Mohan Reddy governance
Special Secretay to Chief Minister of Andhra Pradesh had released a press statement by showcasing "Debt is for Social and Economic Progress". Actually, it is far away from the truth and Facts. If we carefully examine the press statement of the Special Secretay to CM Jagan Mohan Reddy, it makes sense that the Andhra Pradesh state’s financial health is infected and it needs to be cured immediately.

As per the press note released by the state government, it says indirectly that Navratnas are going to root cause of the current state of finance under the precarious condition to deteriorate the financial conditions due to the nature of unproductive expenditure without future revenue-generating assets for the State.

CM YS Jagan Mohan Reddy should answer that has the state revenue deficit been over 918% as of December of the current financial year, or not? If the government has raised debts under the limits of the FRBM Act, why the State Government had agreed to a reduction of nearly Rs 18,000 crore in future debts in the next 3 years, whether it is correct or not?

The impact of Covid-19 is Nationwide and not exclusive for Andhra Pradesh, but has Andhra Pradesh has been outperformed even when Compared with Bihar in terms of GSDP with debt ratio, Is it true or not? When speaking of central government tax collection by the Special Secretay to CM, it would be good if He could also give details of Central Grants, Schemes, and Projects along with the share of taxes received from the Central Government. But, He tries to mislead the people of the State by showing exclusively Receipts of Tax Devolutions from the Union Government alone.

As the CM Special Secretay said that if the Andhra Pradesh CM submits a letter to the Prime Minister on APSDC loans, how is it a sufficient or appropriate answer for raising loans through it where it has not yet been approved. Is there a letter of approval from the Center on this? Whether the writing letter is deemed to obtain the consent

If people like us questioned the irregularity of APSDC loans, the Government is saying that the funds will be channeled through the budget process, which means will it be difficult to repay the loans taken under the budget? Did State Government underestimate the liquor revenue that was supposed to show in the budget for the sake of showing it as the revenue in the Corporation to bring additional debts, or not? Isn't it Double Debt with a Single Source?

When the Special Secretay to CM Jagan Mohan Reddy is speaking about NHAI debt for the sake of his argument to compare with State Corporations, He needs to study NHAI thoroughly. Does He know the length of roads of National Highways laid in our country or at least in our state in the last 7 years? Does He know that our state has a 320 km share in the 50,000 crores worth Chennai - Surath Expressway, which is laid by NHAI? Whither He knows or not that Union Minister Nitin Gadkari is launching 21 projects completed worth Rs 10,000 crore today in Andhra Pradesh? and another Rs 10,400 crore worth of new projects being launched, is it true or not?

Apart from this, NHAI has Rs 2 lakh crore worth of monetized roads on hand as assets and Revenue source Rs 1,500 crore per month in the hands of the Delhi-Mumbai Expressway exclusively. How can the Special Secretay to CM raises the question about the Debts of the NHAI without the proper knowledge on it and compare with the substandard financial management by our State Government in their Corporations? Do the roads under the State Government management have potholes that reflect the state’s economic situation, is it true or not.

As we have observed that not only railway over bridges, the state government shall list out all the development projects that have been stalled due to non-issuance of matching grant by the State government for Central Government sanctioned Projects in the State of Andhra Pradesh.

Those who are in charge of State financial management shall have an understanding of central financial management before comparing State Finance with Central Finance as the roles and responsibilities of the Union Government is beyond much more than the State Government. The Central Government needs to consider that along with the welfare of the people in all the states, there will be adjustments in the gap between exports and imports for Trade Deficit, National Defense and Security, Foreign Affairs spending, National Infrastructure that includes for States, etc.

People gave a chance believing that YS Jagan's performance is better than in the past administration, but the Governance of YS Jagan became worst than never seen in the past and ever would like to see anyone in the future and state's economy will be weakened if this attitude in the Governance continues.

Courtesy: newsbharati

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