Jagan slams Naidu govt for 'financial mismanagement'

The YSR Congress Party president and former Andhra Pradesh chief minister YS Jagan Mohan Reddy on Thursday alleged that the Telugu Desam Party (TDP)-led coalition government in the state led by chief minister N Chandrababu Naidu destroyed the financial position of the state in a span of less than nine months and pushed the state into a debt trap.

- Srinivasa Rao Apparasu

HYDERABAD:

Addressing a press conference at the party office in Tadepalli in Guntur district, Jagan said the Naidu government created a new record in resorting to indiscriminate borrowings crossing over ₹1.3 lakh crore in a span of nine months, but had failed to implement any of his pre-election promises.

Reeling out the figures, the former chief minister said in the last nine months, the Naidu government took ₹80,000 crore and was preparing to take an additional loan of ₹52,000 crore under the pretext of Amaravati's construction, pushing the state into a debt trap.

He claimed that despite taking such a huge loan, the government failed to fulfil any of its promises under the "Super Six" guarantees promised before the elections. He questioned where such a massive amount of money had gone, if not towards implementing welfare schemes.