Debt vs. Development: YS Jagan Reddy Accuses TDP of Economic Devastation

YS Jagan Mohan Reddy accuses N Chandrababu Naidu-led TDP government of accumulating debts almost equal to his government's five-year borrowing in just two years. Alleging corruption, Reddy highlights a rise in fiscal deficits and claims asset mismanagement favoring Naidu's relatives, citing CAG reports as evidence.

Andhra Pradesh witnessed a heated political dispute on Wednesday as YSRCP leader YS Jagan Mohan Reddy accused the N Chandrababu Naidu-led TDP government of financial mismanagement and staggering debt accumulation.

Reddy revealed that the TDP borrowed Rs 3.2 lakh crore in just two years, nearly matching the Rs 3.3 lakh crore borrowed throughout his five-year regime. He criticized the opposition for fostering economic instability in Andhra Pradesh, citing increased revenue and fiscal deficits.

The former Chief Minister attributed these figures to rampant corruption. He claimed Naidu's government had violated fiscal norms, lacking accountability in land dealings and falsely reporting financial data to the state assembly.

(With inputs from agencies.)