All Is Well: Jagan Gives Clarity On Debts

Andhra Pradesh CM Jagan has finally opened up on the state’s financial position and added that it is in safe hands. Speaking in the Assembly, Jagan blamed ex-CM Chandrababu Naidu for the debts and also shot an arrow at the PM Modi led government of India that the country’s debts have piled up in the last eight years.

“In 2014, when AP was bifurcated, the outstanding debts were Rs 1.26 Lakh crore and in Chandrababu’s five years regime, the total debts have gone up 123.52 percent to Rs 2.69 Lakh crore. Currently the state’s debts are at Rs 3.82 Lakh crore and in the last three years, the debts increased only by 41.4 percent,” said Jagan.

CM Jagan also drew a comparison between the state’s debts and GoI’s debts. “Our loans/debts are low compared to GoI. From 2019, GoI’s debts have spiked to Rs 135 Lakh crore which is 43.8 percent higher,” said Jagan and in a way he countered the AP BJP leader’s criticism on state’s financial status.

On YCP’s election manifesto, Jagan added that his government implemented 98.4 percent of the poll promises. “Despite the challenges and pandemic, the state government worked efficiently and the state’s financial position is absolutely good,” said Jagan.

There were media reports that AP’s debts touched 7 Lakh crore but the CM Jagan cut down the numbers to half. Whatever Jagan has spoke in the Assembly on AP’s debts will go on record and if the stats speak otherwise, it would be an embarrassment for both Jagan and YCP government.