INR1,70,000 crore through DBT reached individuals through well-being plans in AP: Buggana

VIJAYAWADA: Finance Minister Buggana Rajendranath Reddy stated on Sunday that AP took loans of Rs 1,71,176 crore, consisting of the loans by public sector systems, and every rupee invested by the state federal government is represented. Keeping in view the well-being of individuals, the YSR Congress federal government has actually dispersed Rs 1,70,000 crore through direct advantage transfer (DBT) system to the bad and the middle-income groups amongst the SCs, STs, BCs through 26 well-being plans under the Navratna effort. Reddy refuted the declaration of Telugu Desam leader Yanamala Ramakrishnudu that the federal government took loans of Rs 8,00,000 crore. “TD leaders are not prepared to confess that public well-being plans are reaching individuals and fulfilling their requirements in an extraordinary way, the minister stated. He remembered that opposition leader Chandrababu Naidu and other TD leaders were declaring that Andhra Pradesh remained in a financial obligation trap and would end up being another Sri Lanka. “Now they are discussing Nigeria and Zimbabwe.” Reddy stated the monetary scenario of AP would have been much better had it not been for the Covid19 spread. “The earnings of the state federal government had actually reduced by about Rs 8,000 crore as an outcome. The federal government assisted the bad by straight transferring Rs 57,512 crore into individuals’s checking account through DBT throughout the Corona times and an extra Rs 7,130 crore was invested to offer Covid-related services.” He stated that in the five-year TD period (2014-19), loanings of AP had actually increased by 19.6 percent. In the 3 years of the YSRC term up until now (2019-22), the loanings of public sector systems increased by just 15.5 percent. “During the TD federal government’s term, the substance yearly development rate (CAGR) of the main federal government increased by 9.89 percent throughout 2014-19, while AP state’s CAGR increased by 16.80 percent. “During the TD guideline, contrary to FRBM standards, about Rs 17,000 crore of extra financial obligation was sustained by the state breaking main standards, as was mentioned by the Union Finance Ministry. This had a substantial negative influence on the YSRC federal government as the Centre enforced curbs on the state’s loanings,” he stated. …
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