Sun, 26 Sep 2021

Andhra BJP slams YSRCP govt

02 Aug 2021, 18:55 GMT+10

Vijayawada (Andhra Pradesh) [India], August 2 (ANI): BJP Andhra Pradesh General Secretary and MLC PVN Madhav stated that the state unit will complain to the Central government on alleged financial irregularities and indiscipline of the YSRCP-led state government.

Slamming the state government, Madhav said that borrowings being raised by the state government will become a heavy burden on the state exchequer and the general public.

Madhav said that the State government has no revenues but is going for borrowings indiscriminately. "The state is misleading the Central government, Reserve Bank of India and other financial bodies and raising loans. It is violating Fiscal Responsibility and Budget Management Act (FRBM Act), 2003, (FRBM) norms, other guidelines by Central government," he alleged.

The BJP leader said, "the state government is not spending the money on any development activities and is instead using it for distribution under various schemes. The Central government funds are also being diverted for money distributing schemes instead of using for appropriate purposes."Madhav further said that the State government is raising debts showing future years' excise revenues as a guarantee and by opening escrow accounts. "On one hand the state government is speaking of liquor ban in the state in phased manner, on the other hand it is raising loans showing future income from excise revenues. Isn't it magic?" he questioned. (ANI)

More Memphis News

Access More

Sign up for Memphis News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!