Chandrababu Naidu may release AP finances white paper

VIJAYAWADA/NEW DELHI: TDP president and chief minister in waiting N Chandrababu Naidu likely to release a white paper on financial situation of Andhra Pradesh soon after assuming office, highlighting the state’s massive debt burden, the dire fiscal situation, poor infrastructure and the weak investment, both by govt and the private sector.
The white paper by Naidu, who is scheduled to take oath on June 12 at Amaravati, comes at a time when the Telugu Desam Party is likely to seek a special package for the state, pointing to the promise made to it at the time of the bifurcation that resulted in the creation of Telangana.
In the past, Andhra has also demanded a special status for the state. TDP sources said that the problem has only grown as Jagan Mohan Reddy govt went about spending based on borrowings, which at one time involved loans from SBI against state govt assets, something that the Centre was forced to stop.
TDP has been alleging that the YSRC govt has raised debts beyond the state’s repayment capacity. In his maiden press conference after winningthe election, Naidu indicated that no one knew the actual situation of state finances.
We have to see as to how many assets have been mortgaged and how much debt raised either giving guarantees or from corporations, Naidu had said and added that an in-depth study was required to reveal the hidden information as the YSRC govt was known to keep everyone in the dark by not publishing even the govt orders.
Naidu is known for doing a comprehensive review of all key departments and releasing white papers. Sources said that this time also, the first white paper to be released by him will be on state finances.
Neelayapapem V Kumar, the TDP spokesperson said that not even one financial indicator is satisfactory in Andhra. In fact, every indicator is raising alarm bells as the YSRC govt has been raising an equal amount of debt to its revenues.