Debunked: Ramoji Rao’s False Publications on AP debt

YSRCP leaders are furious that Ramoji Rao is publishing false stories about the debts in AP. They alleged that he was fighting for the political interests of TDP by damaging the government’s reputation. His newspaper is writing articles about non-existent debts and spreading bad propaganda that the RBI is worried about the state’s debts, the central finance department has issued warnings, and the stock exchange and financial giants are scared.

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An attempt to smear the government

The percentage of debt in the state’s gross product is lower now compared to the TDP regime. In fact, the previous government borrowed more than the norms. With this, the Center is now reducing the available limit. SEBI allowed State Beverages Corporation to borrow by issuing bonds. According to the details, as of June 2014, the debt value of the state government and PSUs was Rs 1,53,346.80 crores. As of May 2019, it was Rs 4,12,288 crores. Similarly, the share of debt in GSDP was 7.45 percent during the 5-year rule of TDP. In the last four years of the YCP government, the share of debt in GSDP was only 5.21 percent. However, Chief Minister’s Special Secretary Duvvuri Krishna revealed that AP’s debt is not Rs 10 lakh crores as the opposition parties, experts and media houses are slandering the government but the YCP government spent only Rs 2,25,924 crores in four years in power.

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Less debt than the TDP regime

Officials say that the rate of growth of AP’s debts is less than during the TDP regime. Government officials say that the total debt taken without a guarantee from NABARD, power companies, various corporations and bonds is only Rs 6.38 lakhs. But Ramoji Rao is creating rumours that AP debts are Rs 10.11 lakh crores. If we look at the statistics released in the official reports of CAG and RBI, it seems that Ramoji Rao has written imaginary stories about AP’s debts.