Andhra's former minister alleges State government borrowed "Rs 1,12,750 crore" in six months, warns of financial instability
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Addressing the media at Hyderabad Press Club, Buggana revealed alarming statistics and alleged that the state has borrowed an unprecedented Rs 1,12,750 crore in just six months, setting a record in Andhra Pradesh's history. He warned that this debt-driven governance threatens the state's financial stability and burdens future generations.
Buggana highlighted the stark contrast between the current administration and the previous YSRCP government, which maintained fiscal discipline and focused on welfare-oriented governance.
He pointed out that during the YSRCP's tenure from 2019 to 2024, the state's debt grew at an average rate of 15.61 per cent, significantly lower than the 19.54% during the previous TDP regime from 2014 to 2019. He criticised the TDP's financial mismanagement and questioned its commitment to sustainable development.
The former minister also criticised Chandrababu Naidu's penchant for grandiose «vision documents,» such as the recently unveiled Vision-2047. Drawing parallels with earlier promises like Vision-2020 and Sunrise Andhra Pradesh, Buggana labelled this as empty rhetoric designed to mislead the public. He argued that Naidu's so-called visionary leadership has consistently failed to deliver tangible outcomes, and the current administration's track record appears no different.
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