Hyderabad: Former Finance Minister Buggana Rajendranath Reddy has accused the TDP-led coalition government of reckless borrowing, pushing Andhra Pradesh into a deep financial crisis. Speaking at Hyderabad Press Club, Buggana revealed that the state borrowed a staggering ₹1,12,750 crore in just six months, marking a historic high. He warned that such debt-driven governance threatens the state’s economic stability and places a heavy burden on future generations.
Buggana contrasted the current administration with the YSRCP government, which he credited for maintaining fiscal discipline and prioritizing welfare schemes. During YSRCP’s tenure (2019–2024), Andhra Pradesh’s debt grew at an average rate of 15.61%, compared to 19.54% during the earlier TDP regime (2014–2019). He criticized Chandrababu Naidu’s grand “vision documents,” including Vision-2047, labeling them as hollow promises akin to Vision-2020 and Sunrise Andhra Pradesh, which failed to deliver tangible results.
Buggana also highlighted the coalition’s failure to implement its “Super Six” promises, such as unemployment allowances and free gas cylinders, calling them election gimmicks. He exposed off-budget borrowings like ₹31,000 crore for Amaravati development, warning of hidden fiscal risks.
The former minister emphasized YSRCP’s track record of fulfilling welfare promises, transferring ₹4.2 lakh crore directly to beneficiaries through schemes like Amma Vodi and Rythu Bharosa. He urged the public to hold the coalition accountable for its financial recklessness.
