The YSR Congress party on Wednesday strongly refuted Telugu Desam Party president and Andhra Pradesh chief minister N Chandrababu Naidu’s claims regarding the state financial status, calling them misleading and based on selective comparisons.
In a statement, YSRCP accused Naidu of distorting fiscal data of NITI Aayog report to create a false narrative about the state's economy.
The party highlighted that, contrary to Naidu’s claims, capital expenditure under YSRCP (2019-24) averaged Rs 15,632.86 crore—higher than the Rs 13,860.60 crore recorded during the previous TDP regime (2014-19), as per the Comptroller and Auditor General (CAG).
It criticized Naidu for selectively comparing 2018-19 (TDP) with 2022-23 (YSRCP), ignoring yearly economic fluctuations.
The party also dismissed allegations of reduced social sector investments, stating that capital expenditure on social services under YSRCP averaged Rs 5,224.83 crore—more than double of Rs 2,437.43 crore spent during TDP’s tenure.
Investments in health, education, sanitation, and urban development were significantly increased, contributing to long-term socio-economic benefits, it added.
YSRCP further challenged Naidu’s claims on debt sustainability, arguing that the state was already in a precarious financial situation when TDP left office in 2019.
The compounded annual growth rate (CAGR) of liabilities under TDP was 22.63%, compared to 13.57% under YSRCP.
The party also accused Naidu’s government of exceeding fiscal deficit limits by Rs 31,082 crore, while YSRCP’s over-borrowing was limited to Rs 2,817 crore.
Countering Naidu’s assertions on revenue growth, YSRCP pointed out that the CAGR of the state’s own tax revenue during TDP’s tenure was 12.9%, only slightly higher than the 10% recorded under YSRCP, despite the latter facing challenges like the COVID-19 pandemic.
In contrast, during the first seven months of Naidu’s current tenure, tax revenue growth stood at a mere 0.03%, according to CAG data.
Accusing Naidu of fiscal mismanagement, YSRCP maintained that its government upheld financial discipline, increased capital investments, and prioritized welfare schemes despite economic challenges.
The party urged the public to see through Naidu’s “misleading tactics” and recognize YSRCP’s commitment to Andhra Pradesh’s progress.
