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Finance Minister Buggana Rajendranath Reddy has strongly refuted the Telugu Desam Party (TDP) national president N. Chandrababu Naidu’s allegations that the State finances were in a disarray and debts touched 13 lakh crore. TDP leaders, including former Finance Minister Yanamala Ramakrishnudu, were issuing irresponsible statements on the State finances, and baseless allegations that the State slipped into debt, said Mr. Buggana.
Addressing a press conference at the Secretariat at Velagapudi near here on Thursday, Mr. Rajendranath Reddy said that the total debts of the State government would be around 7 lakh crore. But the TDP levelled baseless allegations that 10 lakh crore was the total debt. In fact, 4 lakh crore debt against the total debt of 7 lakh crore was borrowed by the TDP government. Sweeping them under the carpet, Mr. Naidu and his party colleagues were making baseless allegations to hoodwink the people, he said.
As per the Reserve Bank of India (RBI), the total debt of Andhra Pradesh as on March 2023 is 4,28,715 crore. The RBI documents mentioned that 2,64,512 crore were the total debts as on March 2019. Also, the TDP government availed another 7,346 crore from March 2019 to May 2019, he said.
It was also important to understand that 1,53,346 crore was the total debt in 2014, the year the TDP came to power, and it touched 4,12,288 crore by May 2019. In comparison, the YSRCP government borrowed 6,38,217 crore during the last four and a half years. While the...
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