AP: Jagan accuses CM Naidu of financial mismanagement, targets 'yellow media' for bias

India Gazette

22-05-2025

Vijayawada (Andhra Pradesh) [India], May 22 (ANI): Former Andhra Pradesh Chief Minister and YSRCP president YS Jagan Mohan Reddy on Thursday launched a scathing attack on the current TDP-led government in the State, accusing Chief Minister Chandrababu Naidu of failing to deliver on pre-election promises and engaging in financial mismanagement.
The former chief minister also took aim at what he called the 'yellow media' for biased reporting in favour of the ruling party.
'I am not only fighting against Chandrababu Naidu but also against the 'yellow media',' Reddy said in a press conference.
'Before the elections, Naidu promised development, welfare, and income generation. He even claimed that Andhra Pradesh was turned into Sri Lanka during my regime. But now, let us examine what he has actually done in the last 11 months. He did not implement welfare schemes to the beneficiaries,' he added.
He claimed that his government successfully managed the state even during the unexpected COVID-19 pandemic.
'Despite the crisis, both investments and GDP increased during that time and throughout our (YSRCP) tenure,' the YSRCP chief said.
He said that in just 11 months, the state's revenue saw a growth rate of 3.08%. This is an important figure the public should be aware of, he said.
'The gross tax and non-tax revenues of the central government in FY 2024-25 (up to February 2025) amounted to Rs36,97,545 crore. In FY 2023-24 (up to February 2024), it was Rs32,50,181 crore. This reflects a total growth rate of 13.76% at the central level,' he said.
Reddy said that under the coalition government led by Chief Minister Chandrababu Naidu, additional borrowings of Rs30,100 crore were made.
'Capital expenditure declined by 17.80%, and most of the budgetary expenditure is being funnelled into the pockets of CM Chandrababu Naidu's associates,' he said.
'During the YSRCP government, even when accounting for all forms of liabilities, the total increase amounted to Rs3,32,671 crore over five years. In comparison, the liabilities in just the first year of the TDP government have risen by Rs1,37,546 crore, which is 41% of the total borrowings made during the entire five-year YSRCP term,' he added.
He said that borrowings secured specifically for Amaravati amount to Rs3,10,000 crore.
'Chandrababu Naidu has been involved in a financial deal amounting to Rs11,000 crore with Access Energy India Pvt. Ltd. This agreement is for 400 megawatts of power at an annual cost of Rs210 crore, with a tariff of Rs4.60 per kWh,' he alleged.
The YSRCP chief said that on 31st July 2024, SECI (Solar Energy Corporation of India) invited tenders for the procurement of power with an assured four-hour daily supply during peak hours. The tariff discovered and the Power Purchase Agreement (PPA) executed were at Rs3.53 per kWh.
'During our (YSRCP) regime, the Andhra Pradesh Government executed a Power Supply Agreement (PSA) with SECI for power supply at Rs2.49 per kWh, with a complete ISTS (Inter-State Transmission System) waiver,' he said. (ANI)