Andhra government floats whitepaper on state economy, targets previous YSRCP regime - World News Network

New Delhi [India], July 26 (ANI): Launching an attack on former Chief Minister Y.S. Jagan Mohan Reddy, Andhra Pradesh Chief Minister N. Chandrababu Naidu accused him of destroying the state’s economy on Thursday.
As per the white paper released by the Andhra Pradesh government, the state suffered a loss of Rs6.94 lakh crore due to the reduced growth rate.
Outlining the state’s growth rate between 2014 and 2019, which was 13.5 percent, it stated this growth rate would have fetched a revenue of Rs76,195 crore.
It further mentioned that even considering the COVID-19 impact on revenue, an additional revenue of Rs52,197 crore should have come to the state. According to the data in the white paper, the growth rate of the state’s economy reduced to 10.5 percent in 2014-19, which was three percent less compared to 2019-24.
Under its section titled “Misgovernance after 2019,” the white paper added that during the previous regime, the state suffered an additional burden of Rs12,250 crore due to the increased power cost from short-term power purchases.
The paper further alleged that due to illegal sand mining, the state treasury lost Rs7,000 crore and Rs9,750 crore due to mismanagement in mineral revenue. The state also suffered losses due to the cancellation of contracts in Amravati, Polavaram, and the energy sector, it outlined.
The white paper further added that, due to inefficient governance during this period, the state lost Rs1.29 lakh crore in the power sector.
Due to delays, the loss in Polavaram stood at Rs45,000 crore, while Rs4,900 crore was lost due to damages and repairs, and Rs3,000 crore was lost due to a delay in hydel power generation, the paper alleged.
The white paper also claimed that during this period, no major new industry or infrastructure project was undertaken in Andhra Pradesh.
It was also observed that the central sector schemes and funds, including the state share of Rs6,600 crore during the previous government, were not released.
“DBT schemes were supposed to increase wealth in the hands of people. However, the per capita income growth reduced,” as per the white paper.
The per capita income growth of the state, according to the white paper, during 2014-19 stood at 13.2 percent, which reduced to 9.5 percent during 2019-24.
It pointed out that the DBT expenditure led to an increase in borrowings by the state, resulting in an increase in per capita debt.
Furthermore, it highlighted the issue of mismanagement of financial resources in the state, alleging that re-routing or diversion of funds from the state’s institutional bodies to AP State Financial Services Ltd. took place.
Mentioning the amount of Rs1,452 crore, the white paper added, “The government did not transfer the amount received in March 2024 from the central government for local bodies.”
Highlighting the debt burden on the state, it added that the debt burden as of March 31, 2019 was Rs3,75,295 crore, which rose to Rs9,74,556 crore. (ANI)

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