Andhra Pradesh's financial difficulties were caused by the preceding ysr congress Party government's accumulation of many loans over the course of the previous five years. Dr. PV Ramesh, a retired IAS official, said that the state's expenses are now more than its revenue. According to him, the state receives around Rs. 483 crores in revenue every day, but it spends about Rs. 655 crores per day, meaning that an extra burden of about Rs. 172 crores results.
 
PV Ramesh said, "The state government is paying an interest of Rs. 78 crores for the debts," during a recent meeting in Guntur. Under the YSRCP government, the financial sector as a whole suffered harm. The total amount of debt is now Rs. 14 lakh crores. Development and welfare were not the priorities of the former government's managers, he said.
 
According to PV Ramesh, Chandrababu Naidu's leadership from 2014 to 2019 put andhra pradesh on a developmental path. He noted that at that time, a number of businesses from South Korea, Japan, and china expressed interest in investing in the state. He said that only South Korean businesses were prepared to spend more than Rs. 1000 crores in the state at that time, but that after 2019, all of those businesses withdrew owing to jagan Mohan Reddy's unfavourable administration.

He asserted that the state currently needs greater facilities for skill development and education. Additionally, he recommended amending the Land Administration Act as needed to do rid of anomalies and unlawful land grabs.
 
 
 
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G GOWTHAM

15/07/2024 11:17 AM