Telugu Desam Party general secretary Nara Lokesh on Monday cited data from the latest report of the Comptroller and Auditor General (CAG) of India to criticize the previous Y S Jagan Mohan Reddy government for resorting to indiscriminate borrowing and damaging the state’s economy.
Taking to X (formerly Twitter), Lokesh said the financial destruction caused by Jagan Reddy during the five-year rule of the YSR Congress Party (YSRCP) was beyond imagination.
"Jagan crippled all systems and took loans wherever possible," he stated.
Attaching a document from the CAG report to his post, Lokesh pointed out that by 2019, the total interest paid on the debt accumulated by all chief ministers over the past 58 years stood at ₹14,155 crore.
"However, under Jagan Reddy’s five-year rule, by 2024, the interest to be paid on loans skyrocketed to ₹24,944 crore. This means that the interest alone on the loans taken during Jagan Reddy’s tenure exceeded the total interest paid on all previous debts by approximately ₹11,000 crore," he highlighted.
Lokesh further stated that these figures clearly demonstrated the extent of the financial havoc caused by Jagan Reddy’s administration.
In response, the YSRCP hit back at Lokesh for attempting to malign Jagan Mohan Reddy while conveniently ignoring the financial mismanagement during the previous TDP government between 2014 and 2019.
"If you call this financial destruction, Mr. @naralokesh, then what do you have to say about the performance of your government from 2014 to 2019, when your party was in power?" the YSRCP questioned.
The party pointed out that in 2013-14, Andhra Pradesh’s share of the interest burden from the combined state was only ₹7,488 crore. This meant that the interest burden accumulated from all governments between 1956 and 2014 was ₹7,488 crore.
"However, the same figure increased to ₹15,342 crore by 2018-19. What does this indicate? The interest burden from liabilities accumulated over 58 years doubled within just five years under the TDP government," the YSRCP argued.
It further pointed out that the TDP government from 2014 to 2019 did not face any major crises like the COVID-19 pandemic. "Despite this, the TDP government took massive loans during its tenure," the party noted.
"Moreover, you were part of the NDA government from 2014 to 2018. Despite all these advantages, your administration performed miserably and pushed the state into a zero-debt sustainability situation. Do you deny this?" the YSRCP challenged.
