Due to the mismanagement carried out by the one who is 420 in AP, the state has been led to its ultimate destruction. A member of the Telugu Desam Party (TDP) –Chandrababu Naidu, has ruined the position of Andhra Pradesh within four and half years of tenure as the Chief Minister of the state. Andhra Pradesh is neck-deep in debt of Rs. 2,22,845 crores, and the repayment of the amount is needed to be done within the next seven years of time.
Rs. 17,231 crores were utilized for Revenue expenditures out of the total amount of money that was indebted by the former TDP government. In this article, we will highlight a brief report of all the debts taken by the TDP government, and how Mr. Naidu, along with his cronies, has led AP to its ruins. Continue to read to find out the details.
The Economic Status of the State:
Huge loans have been imposed on the state of AP, and it is currently under a massive economic burden. Although if we have a look at the charts and the reports the debt was drawn for carrying out all the developmental activities for AP, the ex-CM ended up spending a huge amount of money on revenue sectors and regular expenses. What does this speak about the intentions of the one who was in the ruling position? The former CM of AP, along with his Benamis, had devised a diabolical plan to loot the state and fill their pockets with the government’s money.
The CAG (Comptroller General of India) in the report of the year 2016-17 stated concern for the poor economic health of Andhra Pradesh. In the testimony, it was also expressed that if the expenditure continued at the same pace, AP would soon face economic collapse in no time. According to the CAG, more than INR 17,000 crores were indebted to spend on the revenue expenses. This clearly shows how the one who is 420 in APwas so toxic for the state, and he exploited the Andhra Pradesh thoroughly without paying any heed to its economic health or the condition of the public in AP.
Going against the financial budget that was planned –the estimated amount to be expended on revenue work was Rs. 1,14,168 crores; Mr. Naidu’s government drew Rs. 1,16,215 crores instead. Out of the total amount, around 85% of the money was spent on earnings from revenue, while the remaining 15% was withdrawn in the form of a loan. With the current scenario of spending the money, the economy of the state graduated towards a dangerous situation, as warned by the CAG.
The details of the warning sent out by CAG:
- In the financial year between 2016 and 2017, the amount for revenue expenses surged by Rs. 20,265 crores from the budget that was planned in 2015. However, what CAG said was if the loan amount exceeds the revenue expenses without any proper ROI, then the burden of the loan on the state would aggravate drastically.
- The CAG had also noted that Chandrababu Naidu’s government, instead of depending on its revenue income, relied more on the loans. Typically, a government as a whole or at least the leader of the state should be more focussed on generating resources, which could promote healthy economic status. However, the one who is 420 in AP, along with his cronies, spent the loaned amount not on enhancing its resources for better ROI but utilized that money on carrying out every-day expenses.
- In the session of 2016-2017, the average expenditure of all the states in India was around 19.70%, whereas that of Andhra Pradesh’s was hitting its lowest with 11.48%.
- The TDP government even dared to violate the suggestions of the 14th Finance Commission, and spent all the additional sources of income of worth Rs 4,370 crores on non-essential areas, instead of using the money for buying permanent assets for the state. This unregulated expenditure of money led AP to take up a burden of repaying Rs. 76,888 crores, which affected the budget of Andhra Pradesh for the next five years.
The occurrence of Unjustifiable acts in the Social Sectors:
Only a paltry 4.62% share of the capital amount was invested in the essential activities of the social sectors that included –family welfare, education, sanitation, irrigation, and health. Whereas, at the end of the Financial year of 2016-17, Andhra Pradesh was already up to its neck with a burden of Rs. 2,01,314 crores, which accounted for more than 2.03 times the received revenue and about 28.79% of GSDP. However, the cunning Benamis of the one who is 420 in APtried their level best to showcase a lower loan amount.
This article tells us how low the one who is 420 in AP and his ministers could descend in order to fulfill their vicious deeds. They paid absolutely no heed to the economic health of the state lest caring about the people of AP. Chandrababu Naidu and his cronies had no self-control and, as a result, completely devastated Andhra Pradesh. Do you still think such people deserve a second chance to be voted into power?
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