AP liabilities rose by 12.6% CAGR under YSRC to Rs 6.5 trn: Official

The total liabilities of YSRC-led government in Andhra Pradesh rose at a compounded annual growth rate (CAGR) of 12.6 percent till March 2023 to Rs 6.5 lakh crore as against the 21.8 percent CAGR during the TDP regime, said Special Secretary (Finance & Economic Affairs) to Chief Minister, Duvvuri Krishna on Thursday.

He said the total liabilities of the state, including non-guaranteed liabilities was Rs 1.53 lakh crore as on date of state bifurcation, which shot up to Rs 4.1 lakh crore by the end of May, 2019 when the TDP demitted office.

The outstanding liabilities have increased by 169 percent during the five-year TDP period. This translates to a CAGR of liabilities of 21.8 percent during 2014-19, said Krishna in a statement shared by the state government.

 

As against that, he said the outstanding liabilities have increased by only 58 per cent during the YSRC rule from 2019-23, translating to a CAGR of only 12.6 percent.

Interpreting these financial metrics, the special secretary to the Chief Minister claimed that the debt increase during current YSR Congress government is not higher than what was amassed during the TDP government, both in terms of absolute numbers as well as in terms of the Comptroller and Auditor General's (CAG) numbers.