Buggana Rajendranath Reddy Responds To PAC Financial Situation Allegations, Holds Press Meet

Buganna Rajendranath Reddy, the Finance Minister of Andhra Pradesh (A.P.,) conducted a press meet to respond to the allegations of the TDP leader.

On Tuesday, the 13th of July, Rajendranath Reddy responded to the allegations of the Public Accounts Committee (PAC) Chairman Payyavula Keshav regarding the financial situation of Andhra Pradesh. He also alleged that the sum of Rs. 41,000 crores remained unaccounted.

Mr. Buganna Rajendranath said, "The Comptroller and Auditor General [CAG] merely asked for a clarification. Basically, it was about reconciliation. The Government was submitting necessary reports. But (sic,) the PAC Chairman was provoking unnecessary doubts over the State's financial situation. It was only to defame the Government. It was ridiculous that Mr. Keshav was demanding an audit by the CAG based on a letter by the CAG. Wonder, how can the PAC Chairman make such innocent comments.”

In addition, Mr. Reddy also blamed the Comprehensive Financial Management System (CFMS) introduced under the leadership of N. Chandrababu Naidu, the Chief Minister of A.P., between 2014-2018.

He said, during the Telugu Desam Party (TDP) Government rule, a private person was appointed as the head of the CFSM. Questioning the same, Buganna Rajendranath Reddy said, “Payments are nerve centres. How can a private person be head of that? Also, instead of developing its own software, the previous government spent ₹300 crore on SAP. Efforts were on to rectify the lapses in CMFS."

In addition, the State Finance Minister said, if the PAC Chairman had doubts regarding the financial situation of A.P., Mr. Keshav should have questioned the

Government instead of writing letters to the State Governor or the Central Government. He said, "I don't understand the logic behind it. If he was true, why Yanamala Ramakrishnudu [former Finance Minister] is silent in this regard?"

Continuing the press meet, Mr. Buganna Rajendranath Reddy also clarified about the loans taken. He said, there is nothing wrong in taking loans, every other state takes loan for the growth and development of the State and its people. He said, “Every State does it. The Government, with the borrowings, was continuing the welfare schemes, and clearing the dues in various schemes during the TDP rule. Despite this, the debt growth since 2019 has come down to 16%. The debt growth was 18.36% during 2014-19.”

Concluding the address, the Andhra Pradesh FM said, during the reign of the TDP Government, there was a loan taken worth Rs.16,000 crores, still the opposition is criticising the Yuvajana Sramika Rythu Congress Party (YSRCP) for the loan taken worth Rs. 17,000 crores.