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Andhra Pradesh govt faults TDP for financial crisis
Updated Jul 29, 2021, 7:54 am IST
Krishna explained that the outstanding payables as on March 31, 2019, were to the tune of Rs 39,000 crores
Krishna said the misgovernance and expenditure profligacy of the Telugu Desam government had resulted in the undue swelling of the liabilities of the state.
Vijayawada: The state government defended borrowing of amounts against the backdrop of severe pandemic but stressed that the amounts directly went into the hands of people which helped the public to cope with the financial crisis induced by Covid-19.
Addressing a press meet here on Wednesday, special secretary to the Chief Minister on finance and economic affairs Krishna Duvvuri said that Union government’s CAGR (compounded annual growth rate) was 9.78 per cent during 2014-19 and during the same period, the debt of Andhra Pradesh government led by the Telugu Desam was at a CAGR of 17.33 per cent which was significantly higher (
AP borrowings in tough Covid times within limits: Spl secy
Elaborating further, he said the entire country was in the grip of cyclical slowdown in 2019-20 and the growth of Union tax revenue for that fiscal was the lowest in the last two decades.
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| A+A A- By Express News Service
VIJAYAWADA: Despite the huge fiscal disability due to the cyclical slowdown in 2019-20 and the Covid-19 pandemic in 2020-21, the state government has not compromised on delivering on its commitments made to people, said Krishna Duvvuri, Special Secretary (Finance and Economic Affairs) to Chief Minister. He blamed the non-fulfillment of commitments made to AP during bifurcation and also the ‘misgovernance and expenditure profligacy of the previous TDP government’ for the undue swelling of liabilities of the state.