RRR Writes To Modi On Jagan’s ‘Intelligent’ Borrowings

Article by Satya B Published on: 2:35 pm, 23 July 2021

Narsapuram MP Raghu Ramakrishna Reddy has intensified his attack on YCP government. This time RRR has pointed out the debts being taken by the Jagan government and breaching the Fiscal Responsibility and Budget Management (FRBM) limit.

“As AP government cannot exceed the FRMB limit, cleverly the government has established AP State Development Corporation. Through this corporation, AP government is borrowing money from banks but the government of India has no knowledge of it. There are by-laws for this corporation that the state government can use the money of this corporation but it was not mentioned whether the money is being borrowed. This is smart strategy,” said RRR.

Adding, “The corporation has borrowed Rs 25,000 crore and is planning to take another Rs 50,000. I have no objection if the YCP government uses the money for welfare schemes but this doesn’t fall under FRMB limit. Regarding the corporation and exceeding FRMB limit, I have written to Prime Minister Narendra Modi.”

RRR further stated that now the Jagan government is planning for medical infrastructure corporation and raise another Rs 8500 crore. If the government continues to establish such corporations and raise money, it would cost Rs 10 Lakh crore per year.

Taking pot-shots at Jagan’s media, RRR said, “Such huge amount will burden the people not the government. But with such money, Sakshi media will be doing publicity stunts that Jagan is doing great work. This will benefit Sakshi media and of course Jagan will ensure to give more profits to his company.”

Making satirical comments on advisors to CM Jagan, RRR added, “Well I know that Jagan is an intelligent man but despite that he appointed advisors. Unfortunately they are giving wrong advises while Jagan is bluntly taking their suggestions.” RRR indirectly hit back at Sajjala who is said to be playing a key role in YCP government.

Concluding RRR added that he has written to Comptroller and Auditor General of India (CAG) besides the PM regarding AP debts and the corporations that are borrowing money.

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