Andhra Pradesh

‘Hard facts’ expose State’s claims on growth in exports: Yanamala

The TDP has made light of the State government’s claims on growth in exports and industrial development.

Referring to the socio-economic survey and the Comptroller and Auditor General (CAG) reports, the TDP has asserted that the State has been showing signs of regression ever since the YSRCP came to power.

TDP Polit Bureau member Yanamala Ramakrishnudu, in a statement on Wednesday, alleged the State government hoodwinked the industrialists and entrepreneurs with its false claims on development.

Chief Minister Y.S. Jagan Mohan Reddy should check “hard facts” before making statements on the economic, trade and financial performance of Andhra Pradesh in his two-year rule.

Mr. Jagan Mohan Reddy had claimed big victories in the industrial and trade sectors when the actual figures exposed a deepening crisis, Mr. Ramakrishndu said.

When compared to the TDP term, the performance of the YSRCP was dismal, he alleged.

The State had a growth rate of 12.2% in trade and allied sectors during 2017-19 against 1.1% during 2019-21.

Similarly, the growth rates had come down by 5.2% in the industrial sector, 3.2% in manufacturing, 6.4% in construction, 3.1% in real estate and 7% in the services sectors under the YSRCP rule, the TDP leader claimed.

Andhra Pradesh had stood in the 13th position in FDI at the national level during 2020-21. The State received ₹673 crore FDI, which was 0.1% of the total FDI in the country.

“In contrast, in 2018-19, when the TDP was at the helm, Andhra Pradesh had received ₹23,882 crore as FDI and stood in the 4th place in the country,” Mr. Ramakrishnudu said.

“The overall loans availed of by the State crossed ₹5 lakh crore. A financial emergency is impending, given the mounting debts and financial mismanagement,” he added.

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Printable version | Oct 26, 2021 9:21:08 PM |

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