Amaravati: Bharatiya Janata Party (BJP) leader Lanka Dinakar on Tuesday lashed out at the YS Jagan Mohan Reddy-led Andhra Pradesh government and said that his “misgovernance” has scissored future debts of the state.
Dinakar, while tabling data, stated that the estimated debt limit of the state for the financial year 2021-22 is Rs 42,472 crore, which is 4 per cent of the state’s Gross Domestic Product, of which 0.5 per cent is based on Capital Expenditure targets fixed by the Union Finance Ministry.
“Actual capital expenditure was only Rs 8,739 crore by the end of October 2021 as against the total capital expenditure needs to be incurred for Rs 31,198 crores for the financial year 2021-22. It means that while the actual capital expenditure has to be made up to about 55 percent by October 2021, but actually it had spent 28 percent only,” the leader said.
“At the present calculations as the base, it is not believed to achieve that 75 per cent of the estimated capital expenditure as a target in the third quarter for an additional loan as an incentive. Hence, that it is unlikely to achieve the 100 percent targeted capital expenditure by the end of the current financial year 2021-22,” he added.
Further slamming the Chief Minister, Dinakar said that, after the reply in the Parliament by the Union Finance Minister, it was identified that Jagan Mohan Reddy led YSRCP Government had raised Loans for Rs 17,924 crore for the financial year 2020-21 beyond and in addition to Fiscal Responsibility and Budget Management (FRBM) limit.