Jagan accuses Naidu of pushing state into debt trap

Vijayawada: YSRCP president Y S Jagan Mohan Reddy accused Chief Minister N Chandrababu Naidu of breaking records in raising loans. “Andhra Pradesh is breaking records in terms of raising loans even as the state’s own income is in negative growth,” he said addressing a press conference at his residence in Tadepalli on Thursday.

Jagan alleged that the TDP supremo made 143 poll promises and when it comes to implementation after coming to power, Naidu says the state is in financial doldrums and hence extending welfare measures would be difficult as of now. The former CM further attacked the state government that contrary to the job creation, the ruling NDA government has removed jobs of 2.5 lakh volunteers and 18,000 employees of state-owned Beverages Corporation.

“During this nine month period, they (government) broke records in terms of raising loans. Never Ever has any state government raised so much of a loan. (In a short period of time),” he said. According to Jagan, the state government in the past nine months raised loans worth nearly Rs 90,000 crore and set to borrow another Rs 52,000 crore.

He alleged that the Naidu-led government is trying to privatise several infrastructure projects such as ports and medical colleges which were initiated during the previous YSRCP government.