Financial crisis looming: Yanamala – The Hindu

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Per capita income was 15% during the TDP rule, which has now dropped to 1.03%, he said.

Yanamala Ramakrishnudu, a member of the TDP Polit Bureau, said the central government’s letter to the state government about borrowing points to the poor financial situation of the state.

“There is an undeclared financial emergency in the state. The government may not be able to get out of the crisis in the near future, ”he said.

In a statement on Friday, the former Treasury Secretary said the centre’s investment and borrowing instructions highlighted the dire state of finance.

“The center will review the investments quarterly. No leverage is left to the state. It has to follow the advice. Otherwise there will be an embargo on the inflow of finance from the center and financial institutions, ”he said.

Per capita income was 15% during the TDP rule, which has now dropped to 1.03%, he said. There has been continuous double-digit growth for five years during the TDP tenure, he added. This has now been reduced to a single digit. “There is also a slide in the GSDP. Inefficiency, inexperience and corruption have all influenced the state. People are at the receiving end, ”he claimed.

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