Chandrababu, Who will bear the financial burden of State?

Vijayawada: YSR Congress Party leader K Parthasarathy said that TDP government had turned into a cancerous lump for Andhra Pradesh. The government was playing havoc with the financial situation of the state, he said while speaking to media here today.

Parthasarathy said that Andhra Pradesh Chief Minister N Chandrababu Naidu and the TDP leaders had turned the formation of a new state as an opportunity to loot the resources of the state in every possible manner. The loot of the state was indiscriminate and unchecked, he said. The TDP Chief had compromised on the progress of the state and even the promises made in AP Reorganisation Act for his political gains. Moreover, he has pushed the state into penury, he observed.

The YSRCP leader said that it was the looted money by Chandrababu that was being used to purchase the Amaravati bonds through his proxies. He questioned why there was a need to raise these bonds if the CRDA was indeed sound, as Chandrababu and his cronies claimed. "Who will bear the financial burden of the state," he asked.

He further questioned as to how rain water had entered ministers' chambers in AP state Secretariat. "Did the ministers themselves cut the pipes to facilitate water flowing into their chambers?" He said Chandrababu government failed to protect the state rights. The AP CM seems to have read the writing on the wall that the TDP would not come back to power, and hence he was looting the state, he added.

A few days ago, YSRCP MLA and Public Accounts Committee chairman Buggana Rajendranath Reddy said that the state government was compelled to raise money through bonds, since it lacked credibility to draw loans from banks. Adding that the bonds are generally issued under emergency situations, he said that out of the 194 bonds in the country, Amaravati bonds are issued at a rate of interest of 10.75 per cent, which is among the top four interest figures in India.