Oppn in AP decries govt over CAG finding

Vijayawada: Opposition parties in Andhra Pradesh have taken the YSRCP government to task over the adverse comments made by the Controller and Auditor General of India in its report on financial performance during the financial year ending March 31, 2021.

The CAG report, which was tabled in the Assembly on the last day of the winter session had stated that public debt increased by 15.39 per cent (Rs 46,444 crore) and there was no transparency observed in the Public Deposit (PD) accounts. The CAG pointed out that the off-budget borrowings amounted to Rs 86,260 crore, which were not part of the budget reports.

The targets set in AP FRBM (Fiscal Responsibility and Budget Management) Act, 2011 were not adhered to. The State received Rs 5,838 crore as compensation towards loss suffered due to GST, Rs 3,527 crore in the form of various grants and the balance from back to back loans from the government of India, according to the latest report released by CAG. TDP national president N Chandrababu Naidu alleged that contrary to the tall claims made by Chief Minister Y S Jagan Mohan Reddy in the just-concluded Assembly on State finances, the CAG had exposed the actual financial position. TDP leader Payyavula Keshav and leader of Opposition in the Legislative Council Yanamala Ramakrishnudu alleged that borrowings were made indiscriminately for indulging in wasteful expenditure. CPI, CPI (M), BJP and Jana Sena also criticised the State government for trying to push the State into a debt trap by indulging in fiscal indiscipline.