Former A.P. finance minister Yanamala Ramakrishnudu seeks clarification on CAG’s findings on State’s fiscal place 

Former Finance Minister and TDP Politburo member Yanamala Ramakrishnudu wrote a letter to Particular Chief Secretary S.S. Rawat on August 23, searching for a clarification whether or not the current findings of the Comptroller & Auditor Common of India (CAG) on the State’s monetary place in FY 2021-22 mirror the true image. 

He said that two inevitable conclusions could possibly be drawn from the CAG’s observations, that the State authorities has misled the Authorities of India (GoI) with regard to its debt which exceeded the boundaries imposed by the fifteenth Finance Fee, and the Andhra Pradesh (AP) Authorities resorted to Off-Funds Borrowings (OBB) to the tune of ₹1,18,394 crore whereas Telangana obtained cuts in borrowing limits. 

Additionally, it was evident from the CAG report that the overall debt (public debt, OBB, authorities ensures and dues to workers, Gram Panchayats, Vitality and Water Assets Departments) has crossed ₹10,00,000 crore.

Mr. Ramakrishnudu said that every one the debt indicators (income and financial deficits and debt-to GSDP ratio) had been excessive as per the CAG report, which additionally stated AP’s capital expenditure was the bottom amongst all States and it was sure to have a cascading affect on the financial system in the long run. 

Mr. Rawat ought to, subsequently, make clear if there was a scope for altering the figures pertaining to the State’s monetary place vis-a-vis the problems identified by the CAG, the TDP chief requested.

Leave a Comment