VIJAYAWADA
Finance Minister Buggana Rajendranath Reddy said the borrowings made under the head ‘ways and means’ in 2020-21 have been fully repaid and that revenue during the year plummeted by nearly ₹30,000 crore due to the COVID-19 pandemic.
He stated in a press release that his predecessor Yanamala Ramakrishnudu’s comments on the State finances were politically motivated.
He insisted that the ₹48,000 crore which the former Finance Minister projected as misappropriated was actually a book adjustment transaction, and maintained that there were no special bills in the Comprehensive Financial Management System as alleged by Mr. Ramakrishnudu.
He said the government was giving a proper explanation for the accounting practices and any issues pointed out by the Comptroller and Auditor General (CAG).
Mr. Rajendranath Reddy claimed that the YSR Congress Party government raised more grants from the Central government than the TDP had managed to mobilise during the five year period, and questioned how was it possible to embezzle such large sums as ₹48,000 crore when the accounts were audited by the CAG and at the State level.
He blamed the TDP government for the financial crunch being faced by the State exchequer and asserted that everything was being accounted for as per norms.
