Former finance minister of Indian state of Andhra Pradesh, Yanamla Ramakrishnudu has warned that the state could soon turn into another Nigeria if Jagan Mohan Reddy continues as the chief minister. Andhra Pradesh is a state in the south-eastern coastal region of India. It is the seventh-largest state by area covering an area of 162,975 km² and the 10th most populous state with 49,386,799 inhabitants.
Indian State, Andhra Pradesh May Soon Become Another Nigeria Or Zimbabwe Due To Economic Failures, Says Indian Party LeaderThe Telugu Desam Party leader alleged that in the past three-and-a-half years, Reddy “totally devastated the state with no development in any corner.
The Telugu Desam Party leader alleged that in the past three-and-a-half years, Reddy “totally devastated the state with no development in any corner. The 15th Finance Commission has pulled up the state government on these issues, he said, adding that in the past three-and-a-half years, the state government’s borrowings touched a whopping Rs 8 lakh crore following which the state has to pay over Rs 50,000 crore as interest.
Special incentives were also extended for women in the shape of DWCRA loans generating employment for them and SCs and BCs too were given loans to set up units. But now the situation is different and generating employment is rare, he said. The economic fortunes of Nigeria under President Muhammadu Buhari-led Federal Government have worsened with the government borrowing to pay salaries.
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