Senior TDP leader and former Finance Minister Yanamala Ramakrishnudu said on November 11 that Andhra Pradesh landed in a debt trap, but instead of taking corrective action, the YSR Congress Party (YSRCP) government had been maligning the opposition parties for criticising its failure in containing the damage wrought by its own policies.
In a press release, Mr. Ramakrishnudu said Finance Minister Buggana Rajendranath Reddy kept telling lies even as the Comptroller & Auditor General of India (CAG) and agencies like CRISIL warned of a financial disaster.
“The CRISIL has just downgraded the credit rating of ‘Amaravati bonds’. According to a recent report of Deutsche Bank chief economist Kaushik Das on the fiscal health of States, Andhra Pradesh‘s rank slipped to 11 in FY-23 from eight in FY-22,” Mr. Ramakrishnudu said.
