AP following path of Sri Lanka, says TDP MLA Payyavula

Amaravati (Andhra Pradesh) [India], July 20 (ANI): The Telugu Desam Party (TDP) on Wednesday expressed serious concern over the deeper financial crisis in Andhra Pradesh which is pushing the state into the worst economic emergency.
Talking to media persons, party MLA and Chairman of the Public Accounts Committee Payyavula Keshav said, "the TDP has been saying for the past four months that the state is following the path of Sri Lanka. The Andhra Pradesh government has borrowed funds four times more than Sri Lanka and we challenge the Jagan Mohan Reddy government whether it is ready for an open and special audit."
The Centre has red-flagged 'disturbing trends' in the financial crisis of 10 states, including Andhra Pradesh and cited the economic crunch in Sri Lanka, Keshav said while adding that high off-budget borrowings, escrowing of future revenue and loans secured against public assets are the primary reasons for this disastrous situation.
"An in-depth study is done on the financial situation of the State as Andhra Pradesh is in the most perilous situation," he added.
Pointing out that the Reserve Bank of India has prepared the risk analysis and the Union Finance Ministry has made a presentation on this in which Andhra Pradesh is either on top or in second place in all the index. Payyavula said that this risk analysis is made strictly on the guidelines of the International Monetary Fund (IMF).
"This is only the tip of the iceberg," the TDP leader said and expressed serious concern that a special financial situation is prevailing in the State. The Comptroller and Auditor General (CAG) should bring the facts to light and the qualifying certificate issued to the state by the CAG is unique as no other state till now got such certificate," he added.
"If the state faces a situation like Sri Lanka, leaders may run away from the state but the common man is the worst hit as he will not find a place to go. We have earlier seen persons like Vijay Mallya and Gotabaya running away leaving the people in the lurch," he said.
"All this is because of the escalating cost of the contracts," he said and pointed out that the cost of the Jillelabanda reservoir works in Anantapur district is escalated from Rs 90-94 crore to a whopping Rs 400 crore now.
Making it clear that the TDP always encouraged welfare programmes for the public, he said that the Jagan Mohan Reddy government is looting the state in the name of welfare. No fertiliser subsidy to farmers nor any other welfare programme was taken up for the uplift of downtrodden sections, he said.
Stating that he is ready for an open debate on the economic crisis of the state, Payyavula demanded a white paper on the present economic situation. The state government should provide the accounts details to the CAG or the CAG, with its powers, should demand them, he added. (ANI)