APMDC bonds issue: govt. failed to address key concern, alleges Buggana

The Hindu

10-07-2025

The YSRCP has criticised the NDA coalition government for resorting to 'false propaganda' over the Andhra Pradesh Mineral Development Corporation (APMDC) bonds issue. It has accused the government of diverting attention from the core concern — allowing private entities access to the public exchequer through the bonds.
Addressing the media in Hyderabad on Thursday, former Finance Minister Buggana Rajendranath Reddy said the government failed to answer the fundamental question — 'why was third-party access to State funds permitted?'
During our tenure, loans had been taken against the future income of the Beverages Corporation, but no third-party access was allowed, he said. 'Despite the TDP raising a hue and cry then, our actions remained within the constitutional framework,' he said.
Mr. Rajendranath Reddy criticised Finance Minister Payyavula Keshav's suggestion that sedition charges be filed against YSRCP, saying such logic would equally apply to TDP for its actions in the past.
'Your own MLA from Visakhapatnam went to court against our lawful financial actions. Did that make him a traitor?' he asked.
In response to accusations of recent email campaigns to foreign nations allegedly tarnishing the State's image, he said similar complaints were sent to international platforms during their term (2019–2024).
The YSRCP leader said farmers were being denied Minimum Support Price (MSP) and attempts were made to obstruct party president Y.S. Jagan Mohan Reddy's solidarity visits to rural areas like Bangarupalem. 'The public response shows people's dissatisfaction with the current government,' he said.
Despite a budget on a par with the YSRCP regime, the coalition government failed to implement key welfare schemes, he alleged. 'The YSRCP maintained a welfare calendar and adhered to it. But the current government has broken its election promises, taken huge loans without transparency, and betrayed all sections,' he said.
He cited reductions in beneficiaries of schemes like Thalliki Vandanam, irregularities in the Deepam scheme, and non-implementation of promises like free bus travel for women, Stri Nidhi, and Annadata Sukhibhava.