Andhra Pradesh's Economic Downfall: CM Naidu Blames YSRCP Regime

Andhra Pradesh Chief Minister N Chandrababu Naidu accused the YSRCP government of eroding the state's economy over the past five years, leading to an estimated revenue loss of Rs 7 lakh crore. Naidu cited declines in agriculture and service sector growth, power costs, and increasing debts as key issues.

Andhra Pradesh Chief Minister N Chandrababu Naidu on Friday alleged that the five-year rule by the YSRCP had significantly damaged the state's economy, resulting in a staggering revenue loss of up to Rs 7 lakh crore.

Releasing a white paper on the state's finances, Naidu highlighted the drop in agriculture sector growth from 16 per cent during 2014-2019 to 10.3 per cent under YS Jagan Mohan Reddy's tenure. Similarly, the service sector's growth rate fell from 10.3 per cent to 9.9 per cent.

Naidu attributed the economic decline to alleged mismanagement by the YSRCP government, including looting of natural resources, anti-industrial policies, and policy changes on the capital city. He further criticized the cancellation of major projects like Amaravati city and Polavaram, as well as short-term power purchases that added to financial burdens.

(With inputs from agencies.)