Andhra Pradesh Chief Minister N Chandrababu Naidu made serious allegations on Friday against the YSR Congress Party (YSRCP) and its five-year governance. Naidu claimed that the state’s economy suffered significant damage, resulting in a revenue loss of up to Rs 7 lakh crore.
Naidu highlighted a decline in the agriculture sector’s growth, which fell from 16% during the Telugu Desam Party’s (TDP) rule between 2014 and 2019 to just 10.3% under YS Jagan Mohan Reddy’s administration. He emphasized that this growth reduction has severely impacted the farmers’ incomes and increased their debts.
In addition to agriculture, the service sector also experienced a slowdown. The growth rate dropped from 10.3% during the TDP tenure to 9.9% under the YSRCP. Naidu presented these figures while releasing a white paper on the state’s finances in the Assembly.
Naidu criticized the YSRCP’s governance, stating, “Without money, we cannot do anything. Andhra Pradesh was growing faster than Telangana between 2014 and 2019, but there was destruction of the economy between 2019 and 2024.” He argued that the state’s economic downturn has hindered wealth creation, leading to reduced incomes for people.
Misrule and Resource Exploitation
According to Naidu, the alleged misrule since Reddy took office led to the exploitation of natural resources, anti-industrial policies, changes in the capital city policy, and setbacks in significant projects like Polavaram. He accused the government of looting mineral wealth, resulting in a revenue loss of Rs 9,750 crore, and engaging in illegal sand mining, causing a further loss of Rs 7,000 crore.
Naidu also pointed out the rise in power costs during the YSRCP regime due to short-term power purchases, which imposed an additional burden of Rs 12,250 crore on the state. He argued that these financial decisions have negatively affected the state’s economy and increased the cost of living for residents.
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Investor Confidence and State Image
Naidu stressed that the cancellation of the Amaravati city project, the Polavaram project, and various energy contracts had severely damaged investor confidence. This, in turn, tarnished the state’s brand image, making it less attractive to potential investors.
In his address to the House, Naidu blamed the YSRCP for the economic troubles faced by Andhra Pradesh, calling for better governance and financial management to restore the state’s economy. The allegations have sparked a political debate, with supporters and critics weighing in on the government’s performance and future prospects.
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