YSRCP leader Buggana Rajendranath Reddy.
The YSRCP accused the NDA government of resorting to a double standard on loans and financial discipline.
The TDP-led NDA dispensation was adopting financial structures that it vehemently criticized when it was in opposition, YSRCP leader and former Finance Minister Buggana Rajendranath Reddy said while addressing the media in Hyderabad on Sunday.
Mr. Rajendranath Reddy said that government borrowing was not being reflected in social benefits, while declining revenue pointed to the failure of Chief Minister N. Chandrababu Naidu to create wealth.
People and media houses who questioned the financial mechanisms of the YSRCP government are now silent, he pointed out.
The TDP objected to the previous government’s issuance of non-convertible debentures (NCDs) backed by proceeds from the sale of liquor, which were used to fund welfare schemes. “The current government is borrowing through the same structure,” he said.
“The government should clarify whether its earlier allegations are intended to mislead the public or whether it is now knowingly accepting a structure it once described as fraudulent,” he said.
He further claimed that future loans to the State Corporation for the Development of Mineral Resources were stopped and access to the treasury was extended to private entities, calling it unconstitutional.
Mr. Rajendranath Reddy said the government has received more than ₹ 2.66 crore so far, but key social security schemes have either been suspended or failed to kick off. The promised initiatives under the Super Six have not been implemented, including unemployment support and Aadabidda Nidhi, he alleged.
Despite increased liquor sales, he said the revenue growth was not reflected in state finances, indicating widespread corruption.
He claimed that the YSRCP government had provided social programs as planned even during the COVID-19 period, while the current exemption relied on propaganda.
Published – 14 Dec 2025 19:33 IST
