VIJAYAWADA: Special Secretary to the CM, Duvvuri Krishna, on Thursday objected to the comparison of finances of a converse with the financial subject in Sri Lanka or with the giant financial debt there. AP has taken loans handiest by following the norms role by the central government, he has confused out.
Krishna addressed the media here with YSRC general secretary and government adviser (public affairs) Sajjala Ramakrishna. He talked about that, since 2014, the old Telugu Desam government has been allowed to borrow handiest as much as some per cent of the GDP. In no single one year did they borrow below that limit. As a result, the fiscal deficit rose to some.95 per cent in 2014-15, 3.65 per cent in 2015-16, 4.52 per cent in 2016-17, 4.12 per cent in 2017-18, and 4.06 per cent in 2018-19.
“After the expose government came to vitality, the fiscal deficit in 2020-21 became 5.44 per cent. Attributable to Covid, the converse suffered financially. Your full states as also the Center had to face the equivalent subject. On the other hand, due to the the steps taken by the expose government, AP’s debt lowered to 2.1 per cent of the GDP in 2021-22,” he talked about.
The actual secretary, talking about the converse’s finances and debt subject in FY22, referred to the provisional figures released by the CAG. “It showed that, for the fiscal 2021-22, the AP government managed its finances in the fiscally most-prudent manner, with the income deficit having been dinky to Rs 8,370.51 crore and the fiscal deficit to Rs 25,194.62 crore.
“This translates to a fiscal deficit to GSDP ratio of lower than 2.10 per cent.”
The actual secretary talked about, “Within the gentle of the reality that the 15th Finance Rate has suggested a fiscal deficit to GSDP ratio of 4.5 per cent for the financial one year 2021-22, the performance of the converse shall be termed as being extremely prudent.”
Ramakrishna Reddy talked about, “At some level of the term of Telugu Desam, there became no account for more than Rs 1.10 crore. The Center had answered thus, a depend upon from a TD MP in the Lok Sabha about the converse’s finances. Yet, the TD leaders are carrying on with a propaganda that the converse is in a financial mess. They are unnecessarily constructing confusion among the many other folks.”
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