Jagan criticises Chandrababu Naidu's fiscal management, highlights increased debt ratios and lack of development
Reacting to Chief Minister N. Chandrababu Naidu's claims on government debt, YSR Congress Party (YSRCP) president and former Chief Minister Y.S. Jagan Mohan Reddy said the fiscal deficit to Gross State Domestic Product (GSDP) ratio increased from 4.08% to 5.12% in the last one year, and wondered if Mr. Naidu really has a deep understanding of governance and what his long experience has delivered.
In a message on 'X' on Monday, Mr. Jagan stated that the NDA government in Andhra Pradesh raised a debt equivalent to 44% of the total debt which the YSRCP government had availed of in five years despite the fact that during the one - year period, the NDA Government had nothing much to show with respect to development or welfare.
He observed that the figures released by the Comptroller & Auditor General and the Ministry of Statistics and Programme Implementation revealed shocking facts about the inefficient fiscal mismanagement of the NDA government.
Mr. Jagan noted that the revenue deficit to GSDP ratio jumped from 2.65% to 3.61%, and the debt to GSDP ratio stood at a staggering 35.64% in spite of the absence of any adverse circumstances such as the outbreak of COVID, and only 23.49% of borrowings were used for capital expenditure in 2024-25, compared to the YSRCP Government's 33.25%.
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