TDP distorting state's financial data: Buggana Rajendranath Reddy

Alleging that TDP leaders are misinterpreting the state’s financial situation, state finance minister Buggana Rajendranath Reddy said the people will not be deceived by the distorted data that shows the state in a poor light.

By Newsmeter Network  Published on  18 Sep 2021 4:42 AM GMT
TDP distorting states financial data: Buggana Rajendranath Reddy

Vijayawada: Alleging that TDP leaders are misinterpreting the state's financial situation, state finance minister Buggana Rajendranath Reddy said the people will not be deceived by the distorted data that shows the state in a poor light.

Buggana criticized his predecessor Yanamala Ramakrishnudu for misleading the public with his "vast experience" and acting without basic social responsibility. He said the TDP leaders have been trying to deceive the people by showing statistics favourable to them but without disclosing the growth rate of the agricultural sector. He said that the Opposition has been trying to malign the government's image to gain political advantage.

Drawing comparison with the previous government, the finance minister said that in 2018-19, the growth rates in agriculture, industrial, and service sectors were 3.57 per cent, -0.19 per cent, and 8.24 per cent, respectively, while the gross state domestic product (GSDP) was 4.88 per cent. In 2019-20, the GSDP was 7.23 per cent and the growth rates in agriculture, industrial, and service sectors were 7.91%, 10.24%, and 6.20%, respectively.

He said that by the end of the TDP term, the GSDP had been declining whereas the growth rate of 10.09 per cent between 2017-18 had fallen to 4.88 per cent in 2018-19, registering as the lowest among the major states in the country. However, under the leadership of Chief Minister Y.S Jagan Mohan Reddy, the state has achieved a positive growth rate in spite of COVID-19, the minister added.

Further, he said that Andhra Pradesh was ranked third in Sustainable Development Goals (SDG) Index for 2020-21 and as per Niti Aayog's report, the state ranked 5th and 6th in poverty eradication and inequality reduction. He said that the state had ranked 4th in the SDG index in 2018-19 next to Kerala, Himachal Pradesh, and Tamil Nadu. However, it climbed to third place in 2019-20 and 2020-21.

Refuting the TDP's allegation on the unemployment rate, he said the unemployment rate had declined from 5.7 per cent in 2018-19 to 5.1 per cent in 2019-20. The country's unemployment stood at 6.2 per cent in 2018-19 and had decreased to 5.2 per cent in 2019-20.

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