Like never before, the AP state revenue has fallen by Rs 10,000 Cr in the last eight months of Jagan Reddy government. The overall revenue for these eight months this year is just Rs. 98,790 Cr as against Rs. 1,08,700 Cr during the corresponding period last year. Disclosing these figures, the Comptroller and Auditor General (CAG) has described the financial situation in AP as hopeless and still declining. All this is being blamed on the retrogressive and anti-industry policies of the Jagan Reddy government. The previous Chandrababu Regime brought huge loans and kept state economy vibrant by taking up multi-crore projects including Amaravati Capital construction and Polavaram. But CM Jagan stopped all these projects paralysing the state economy as a whole. The present government is not implementing even 10 per cent on the development projects when compared with TDP Circar. This has led to unemployment crisis, steep fall in people’s purchasing power and serious economic distress due to collapse of construction industry. Surprisingly, India as a whole is withstanding economic recession to a certain extent but AP’s situation became hopeless.
Despite this crisis, adamant Jagan is going ahead with his Capital shifting which is further worsening the crisis. Already, AP is not able to pay interest towards bank loans. Economists say that the RBI guarantees will be adjusted to directly pay bank interests. In such a scenario, AP government will not be able to even pay salaries to its employees soon.
