The chief of the YSRCP, Buggana Rajendrandath Reddy, accused andhra pradesh coalition government of gross financial indiscipline

Former Minister of Finance of Andhra Pradesh and part of the Congress of the YSR (Ysrcp) The senior manager of Buggana Rajendrandath Reddy, the current Telugu party of the Am (TDP) The coalition government has been accused of serious financial irregularities. He said that by issuing non -convertible debunts (MNT) by the government, private institutions have the right to directly the flow mechanism, which is extremely dangerous for the interests of the state.

Addressing the media on Thursday, Buggana said: “The state government hypothe does all future borrowings from APMDC (Andhra Pradesh Mineral Development Corporation) and allowing private companies to withdraw money directly from the integrated state fund. It is completely undemocratic and reprehensible.” He warned that the amount which is lifted by these obligations will be spent on income expenses, which will increase the financial burden of the general public. “This stage will increase the debt on the state and the burdens of the reimbursement will be heavy on the government’s financial situation.”

Buggana recalled that when the YSRCP government has promised properties, current coalition chiefs created a heckling on “the out -of -budget”. “Now, the same people justify this financial irregularity, which is extremely condemnable,” he said.

He said that the government of Chandrababu Naidu had so far taken a loan of 1.40 Lakh crores, but where this money was used, there is no transparency. “No major social protection program promised before the elections has yet started. All classes – farmers, students, women, traders – are all disappointed.”

Buggana finally said: “Our government had given priority to the good of the poor even during a disaster like Kovid. But the current government uses public money for personal interests. This coalition reveals the real face of the government.”

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