YSRCP reg. Debt burdening the state with loans, TDP leaders claim

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TDP Visakhapatnam’s general secretary Pasarla Prasad on Wednesday criticized YS Jagan Mohan Reddy for spending a lot on a number of welfare systems and failing to create wealth by taking out loans.

In an interview with reporters, the TDP chief said that instead of creating jobs, the state government had ordered the closure of opposition leaders’ companies. “Employees at these companies have lost their jobs and are unable to take care of themselves during the pandemic,” Prasad said.

Mr Prasad refuted government claims that revenue streams had dried up due to the pandemic and tried to find out what happened to the revenue from liquor sales and tax increases.

“In the budget for economic services, only 22.19% was allocated in 2019-20 and 24.91% in 2020-21. Government bonds, which totaled EUR 52,090.63 billion in 2019-20, increased to EUR 79,191.58 billion in 2020-21 (through February 2021), and out-of-budget loans amounted to EUR 34,650 billion, bringing the total borrowing to EUR 1, 65,932.21 crore, “said Mr. Prasad, wondering what the fate of the treasury would be if borrowing at that rate were made.

New role for Balakrishna?

In a message from Hindupur MLA Nandamuri Balakrishna, Mr. Prasad said that the veteran leader would no longer be confined to his constituency but would soon get involved in active politics across the state.

He said Mr Balakrishna spoke to family members of TDP cadres who had died of COVID-19 and assured them of all support during their hour of grief.

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