Archive · 26 Jun 2025
Jagan Accuses Andhra Government of Fiscal Mismanagement
Former leader Jagan Reddy is criticizing the current government of Andhra Pradesh, saying they are not being careful with money.
He is concerned about how much money the government is borrowing and how they are using it.
He specifically points to the government borrowing more than half of what the previous government borrowed, through issuing bonds.
Reddy also claims the government is allowing private companies to easily access the state's money and has put up valuable government assets as collateral for the bonds.
Jagan Mohan Reddy accuses the Andhra Pradesh government of lacking fiscal discipline.
APMDC concluded a second NCD issuance to raise Rs 5,526 crore, totaling Rs 9,000 crore.
Reddy claims the current government's borrowings exceed 50% of the previous government's borrowings in 13 months.
Reddy alleges the government granted private parties access to the state's consolidated fund.
Reddy says the government mortgaged mineral wealth worth Rs 1.91 lakh crore for bond issuances.
- Who
- Jagan Mohan Reddy and Andhra Pradesh government
- What
- Jagan Mohan Reddy accuses Andhra Pradesh government of fiscal indiscipline concerning bond issuances.
- When
- Thursday, June 25
- Where
- Andhra Pradesh, India
- Why
- To highlight alleged financial mismanagement by the current government.
Jagan's Allegations
Government's Response (Awaited)
Fiscal Discipline
Jagan's Allegations
Current government lacks fiscal discipline.
Government's Response (Awaited)
No immediate reaction available from the accused.
Access to Funds
Jagan's Allegations
Government granted private parties access to state funds.
Government's Response (Awaited)
No immediate reaction available from the accused.
Use of State Assets
Jagan's Allegations
Government mortgaged mineral wealth as security.
Government's Response (Awaited)
No immediate reaction available from the accused.
- Accuser
- Jagan Mohan Reddy
- Accused
- Andhra Pradesh Government
- APMDC Bond Amount
- Rs 5,526 crore (second tranche)
- Total APMDC Issuance
- Rs 9,000 crore
- Interest Rate
- 9.3%
- Mineral Wealth Mortgaged
- Rs 1.91 lakh crore