Ex CM Jagan worried about AP Financial Health

As ironic as it may sound, former CM Jagan Mohan Reddy has expressed deep concern over the current financial health of Andhra Pradesh as he shared an elaborate message on social media.

According to Jagan, during the financial year 2024-25, the year-on-year growth of State Government’s own revenues was only 3.08%. This is with respect to the fiscal year during which provisional estimates of the Central Government for India’s GDP growth during 2024-25 is 9.8%..

About the debts that are being administered by the incumbent NDA government, Jagan had another distressing statement.

As tweeted by Jagan, the growth of liabilities during the five year period 2019-2024 is Rs. 3,32,671 crores. However, the aggregate liabilities contracted during the first 14 months of the TDP alliance Government is worryingly high at Rs. 1,86,361 crores which 56% of what previous Government borrowed over a five year period.

Jagan gave the implication that the incumbent NDA government is far worse than his own government between 2019 to 2024 when it comes to debt borrowing.

Another primary point that must be noted here is that the CAG reports between 2019 to 2024, were very alarming. Andhra Pradesh was borrowing far more than what could be considered fiscal responsibility and on top of that, the repayment was agonisingly weak.

Not once did Jagan address any of these complaints about fiscal mismanagement during his time as the chief minister. Despite the repeated apprehension that were pointed out by the CAG report, he remained mum.

And now, after the formation of the NDA government, while Andhra Pradesh is witnessing surplus investments and socio economic development, Jagan has set out to take the government to the cleaners. His argument is that the numbers that are being seen under the prevailing government are far more alarming and concerning than his tenure.