The other day, the Controller Auditor General (CAG) released a report about Andhra Pradesh’s financial condition in which it is revealed that the state has exhausted 97.59% of the loan limit set for an entire year in just five months. In the wake of this, BJP Leader and former TTD Board member Bhanu Prakash Reddy made some stunning allegations.
“The financial condition of the state government is too bad. The position is as such no one is ready to give loans to the government. So, the state government is eyeing the TTD treasury. Devotees are very much worried. TTD Chairman and Board should not even entertain such a proposal even for the discussion,” he demanded.
It is reported in media that TTD is planning to pull its deposits from Banks in the name of low-interest rates and purchase bonds of the State Government in the name of higher interest rates. TTD Chairman YV Subbareddy confirmed the development but said it will happen only if RBI gives a guarantee.
It has to be seen if the Jagan Government will take such a risk.
