In the Andhra Pradesh assembly today, Chief Minister Nara Chandrababu is presenting a white paper on the financial mismanagement during the former YSR Congress Party’s rule.
Naidu stated that AP had a debt of Rs. 3,75,975 crore as of 31st March 2019. In May 2019, YCP came into power. By the time YCP got dethroned, the debt tripled as it stood at Rs. 9,74,556 crore as of June 12, 2024.
Out of this 9.74 lakh crores, the government debt was Rs. 4,38,278 crore and Rs. 2,48,677 crore was corporation debt.
Chandrababu Naidu stated that there are chances of the number being more as well as many other debts are yet to be unravelled.
It was stated that there was a cumulative loss of around Rs. 52,900 crore due to the delay in the works of the Polavaram Project.
Of these 52,900 crores, there was a 45,000 crore rupees loss due to delay in the supply of water to ayacut areas, 4900 crore rupees loss due to damages and repairs and 3000 crore rupees loss due to delay in hydel power generation.
Naidu pointed out that if the project was not mismanaged, the government would have gotten a GSDP contribution of Rs. 52,900 crores.
It was also stated that due to the stalled works in Amaravati, the government incurred losses of around Rs. 2-3 lakh crores.
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