Guntur: Alleging that the Chief Minister of Andhra Pradesh N Chandrababu Naidu had pushed the State into a debt trap, former chief secretary of Andhra Pradesh IYR Krishna Rao declared that the State was in a deep financial crisis.

Speaking at a discussion on Financial Crisis in AP organised by Jana Chaitanya Vedika in Guntur, he said that the State was not on the “verge” of a financial crisis, but already “in” a financial crisis. This picture, he said, was opposed to how the Chief Minister choose to project his own version that the State’s economic position was healthy ,but whereas the actual figures show something else.

He criticised the Chief Minister for publishing such misleading articles in two papers without quoting their names. One article in particular newspaper said that the State’s economic situation was on the verge of crisis, whereas it was not on verge but actual in a crisis, he derided.

He compared Chandrababu’s regime to that of King Louis XV of France where he said, "Après nous, le déluge" which meant “after me the deluge”. Same was the case with Chandrababu, where in the past five years he chose to do as he pleased not thinking about the outcome of such decisions.

Just like how the invaders plunder other nations without leaving anything left for others, Chandrababu has done the same thing. He has projected incorrect figures, inflated the GDP, took loans indiscriminately and emptied the State coffers.

IYR Krishna Rao scoffed at the CM for criticising the unscientific way in which the State was bifurcated, and behaving irresponsibly. It is true that we lost Hyderabad and the revenues but which rightfully went to Telangana. Now he blames the Centre for anything that goes wrong in the State, he laughed.

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He compared the state’s bifurcation to that of two brothers who part ways over property, where one brother (Telangana) gets the meaty share and the other gets nothing. IYR said that there was no reason to complain and one can slowly regain and build wealth step by step over a period of time. But here, Chandrababu has spent more than what he could and brought the state to a verge of insolvency.

“Is it necessary to criticise the Prime Minister Modi for everything that has happened to the State,” he asked. The amount of loans taken was double the amount to the cumulative debt of the State over the past 65 years, and now he chooses to abuse the Centre.

Making this a point of criticism the two papers over a period time have published articles that the people are now beginning to think deeper. People now don’t have the time to think about these things anymore, but yet Chandrababu continues to play the victim card and tries to push the blame on to Modi, the Centre and various other entities, he concluded.

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