Jagan Reddy Cites CAG Figures to Dispute Andhra Growth Claim, Points to Tax Slump
He alleges a Rs 9,000 crore bond raise by APMDC covered routine spending instead of building assets.
Overview
- Reddy, in a Saturday post, cited the CAG’s provisional FY26 accounts to say Andhra Pradesh faces severe fiscal stress.
- He contrasted the state’s published 10.75% GSDP growth with a 3.22% drop in own tax revenue, which refers to taxes the state itself collects.
- Using 2023–24 receipts of Rs 85,922.23 crore, he said FY26 should reach Rs 1,00,219.69 crore, while the provisional figure is Rs 86,552.68 crore, a notional gap of Rs 13,667 crore.
- He alleged APMDC’s Rs 9,000 crore non‑convertible debentures issued in May 2025 funded day‑to‑day spending rather than new assets, saying private holders were linked to the state’s Consolidated Fund.
- He questioned Naidu’s ‘Sampada Srushti’ promise using these figures, and the reports noted no on‑record government rebuttal yet.