AP In Crisis: ₹10 Lakh Cr Debt & ₹1 Lakh Cr Interest’

The gross financial mismanagement of ex-CM Jagan Mohan Reddy is having grave consequences on the state finances, as cited by Chandrababu today. In a major public meeting, Chandrababu stated that Jagan has left AP in severe distress.

“The previous CM left the state in tatters. Due to his mismanagement, the state has ₹10 lakh crore in debts today, and we are having to pay ₹1 lakh crore in interest alone. After the massive interest payments, we then have to clear the principal amount. This is going to be a herculean task, and I have started to work on it for the betterment of the state,” Chandrababu said.

While the earlier Jagan government had a weekly habit of seeking secured and unsecured loans for the DBT schemes announced by Jagan, the fiscal consequences of these actions are now beyond comprehension.

Babu noted that the AP voters did the right thing by giving the NDA 21 MP seats, which is providing him with enough impetus to fight in the center and secure funds to run the government in AP.

Despite the treacherous financial condition, Chandrababu vowed to implement every single promise in his Super Six program. This process will kick off with the free gas cylinder distribution program that starts this Diwali season.