News Brief
Andhra Pradesh: Jagan Government Disputes Rs 10 Lakh Crore Debt Claim, Says Liabilities At Rs 6.38 Lakh Crore After Four Years
Andhra Pradesh Chief Minister Jagan Mohan Reddy.
The Chief Minister of Andhra Pradesh, Y S Jagan Mohan Reddy's special secretary, Krishna Duvvuri, has refuted opposition claims and media reports suggesting that the state's debt has surged to Rs 10 lakh crore.
Instead, Duvvuri presented figures, stating that the total borrowing of the Andhra Pradesh government and public sector undertakings, both guaranteed and not guaranteed by the state government, stands at Rs 638,217.85 crore.
As reported by Deccan Herald, Duvvuri countered assertions by the opposition Telugu Desam Party (TDP), highlighting that the outstanding liabilities increased by 169 per cent during the five-year TDP period, with a compounded annual growth rate (CAGR) of 21.87 per cent.
In contrast, during the five-year rule of the Yuvajana Sramika Rythu Congress Party from 2019-2023, outstanding liabilities rose by 55 per cent, with a CAGR of 12.07 per cent.
He emphasised that the debt increase during the present government's tenure is not higher than that accumulated during the TDP government, both in absolute numbers and CAGR.
Duvvuri also pointed out the impact of the COVID-19 pandemic, which resulted in estimated revenue loss and increased expenditures.
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