Former Andhra Pradesh Finance Minister Buggana Rajendranath criticized the Telugu Desam Party -led coalition government for the deteriorating financial crisis in the state. He cited the provisional accounts of 2024-25 of the Comptroller and Auditor General (CAG) as evidence. Buggana accused Chief Minister N Chandrababu Naidu of pushing the state into increasing debt and stagnation cycle, which shows no signs of development despite large -scale borrowings. He said that despite the shortage of major welfare schemes, the revenue expenditure in 2024-25 had reached Rs 2,25,889 crore, described it as a wasteful expenditure of expenditure.
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He said that in the meantime, capital expenditure has fallen by Rs 4,153 crore compared to the previous year, refuting the government’s claim that borrowings are being used to make sustainable public property. According to Rajendranath, the CAG report shows a decline in revenue receipts, which has come down from Rs 1,73,767 crore in 2023-24 to Rs 1,68,443 crore in 2024-25, and has pointed towards a sluggish increase in its revenue of the state, which has increased only 3.08 percent. He said that non-tax revenue has also fallen by Rs 640 crore. Comparing YSRCP’s tenure from 2019 to 2024, Buggana said that despite the Kovid-19 epidemic, its tax revenue of the state has increased at an annual rate of 10.04 percent.
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He said that if this increase continued, the 2024-25 figure would have reached Rs 1,02,727 crore, which means that the TDP government lost Rs 6,500 crore due to the short-sighted policies of the government. He also pointed to a decline in central grant, which declined more than Rs 14,500 crore in FY 25. He said that this proves the allegation of the TDP that YSRCP did not make proper use of central schemes.
