Bugganna presented numbers from the RBI and CAG to demonstrate that the TDP was creating a false narrative.
Published Jul 27, 2024 | 5:23 PM ⚊ Updated Jul 27, 2024 | 5:23 PM
Buggana Rajendranath, raised questions regarding the delay of a full budget for Andhra Pradesh
Criticising the TDP government’s white paper on state finances, former finance minister Bugganna Rajendranath Reddy accused the N Chandrababu Naidu-led dispensation in Andhra Pradesh of spreading disinformation.
Questioning the government for not presenting a full budget, Bugganna termed it a ploy to delay the budget presentation. The former minister was addressing a news conference in Hyderabad on Saturday, 27 July.
“White papers are a tool for effective and collaborative governance,” he said while flaying the TDP government’s position paper, which stated that the YSRCP’s financial performance was shocking.
“You cannot fool all of the people all of the time,” he said, quoting Abraham Lincoln.
Reiterating YS Jagan Mohan Reddy’s claims that the TDP was propagating lies about the YSRCP’s handling of state finances, he refuted the TDP claim that Andhra Pradesh was in a debt of ₹10 lakh crore to ₹15 lakh crores.
“They even made the Governor lie about it,” he stated.
Bugganna presented numbers from the RBI and the Comptroller and Auditor General in a bid to demonstrate that the TDP was creating a false narrative.
“Apart from the false claims about the state’s debt, the TDP also says that we are incapable of generating wealth or running a sound economy,” Bugganna said.
Noting that Andhra Pradesh under the YSRCP was better than the previous TDP government, he elaborated on the difference in national revenue share, per capita income, and ease of business.
“We took up our share in the national revenue from 4.47 percent to 4.8 percent and took up the per capita income from 1.5 lakh to over 2 lakh. We also improved the ease of doing business through constant feedback,” the former finance minister claimed.
He also stated that the Compound Annual Growth Rate (CAGR) of debts was at 21.63 percent under the TDP. He further claimed that the YSRCP government brought it down to 12.9 percent.
Echoing Jagan’s claims at an earlier press conference, Bugganna accused the TDP of deliberately delaying the full budget.
“The TDP is scared of two things: First, the truth about the debt which it has blatantly lied about. Second, their inability to fulfill most of its poll promises,” he stated.
“They can’t find fault with our governance. Hence, they are trying to misguide public opinion about positive things,” he stated.
He revealed that the YSRCP government used Additional Retail Excise Taxes (ARET) for welfare schemes and floated a company under the RBI to generate higher interest rates. He posited that the attempts to better the state’s finances were painted as scams and diversion of funds.
“The state requires ₹2.5 lakh crore for bare minimum governance. At ₹2.4 lakh crore, the TDP is already in a deficit. Where will they get funds for the Super Six,” he questioned, referring to TDP’s six guarantees.
He demanded the TDP to provide a timeline for fulfilling the promises. He criticised the incumbent government for not delivering on the promises and not continuing earlier schemes.
“Every time the question of fulfillment is raised, they cite a lack of data. Do they lack the data of the demographics? Where do they get the data for the numerous white papers they keep presenting,” he asked.
Calling the TDP’s Super Six a “duck out”, he asserted that the TDP was scared of disappointing the scores of people who elected them.
“The same people who wished for the erstwhile Andhra Pradesh’s bifurcation are now calling it unscientific and irrational as it suits them,” he further added.
Buggana also criticised the media for being “partisan” in the state. “As the media, you have the responsibility to verify the claims of the government, not amplify it,” he stated.
Noting that robust media is essential to good governance, he believed that it blew up the false loan claims disproportionately.
“When the government and media float these false claims, they contradict RBI and CAG reports. How is that credible,” he asked.
Calling such propaganda meaningless and illogical, he urged the media to be unbiased despite its political leanings.
(Edited by Majnu Babu)
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