Former Finance Minister and TDP Politburo member Yanamala Ramakrishnudu wrote a letter to Special Chief Secretary S.S. Rawat on August 23, seeking a clarification whether the recent findings of the Comptroller & Auditor General of India (CAG) on the State’s financial position in FY 2021-22 reflect the true picture.
He stated that two inevitable conclusions could be drawn from the CAG’s observations, that the State government has misled the Government of India (GoI) with regard to its debt which exceeded the limits imposed by the 15th Finance Commission, and the Andhra Pradesh (AP) Government resorted to Off-Budget Borrowings (OBB) to the tune of ₹1,18,394 crore while Telangana received cuts in borrowing limits.
Also, it was evident from the CAG report that the total debt (public debt, OBB, government guarantees and dues to employees, Gram Panchayats, Energy and Water Resources Departments) has crossed ₹10,00,000 crore.
