YSR Congress has come to Power with a thumping majority. After the historic mandate, all eyes are on the Navaratnas – The Nine Promises made by YSR Congress. Jagan faces a daunting task of mobilizing at least 50000 Crore if not more to honor some of those nine promises while empty coffers stare at him.
The first eight promises of Navaratnas are financial assistance of ₹12,500 a year to farmers, plus crop insurance premium; revival of Jalayagnam (irrigation projects); Arogyasree (health insurance cover worth ₹5 lakh and covering all medical bills that cross ₹1,000); fee reimbursement; construction of 25 lakh houses; waiver of loans to self-help groups (in four phases); assistance of ₹75,000 to people (who crossed 45 years of age) belonging to BCs, SCs, STs and minority communities and ₹15,000 each to women who send their kids to schools.
The ninth Promise is even critical — Liquor Prohibition — would deprive the State of its largest source of income. Jagan has promised to confine liquor only to five-star hotels by 2024 elections. The term – Prohibition in Phases would give him some immediate leverage. The Financial assistance to farmers, Loan Waivers to Dwacra Women, ₹15,000 each to all women who send their kids to schools would alone cost 50000 Crore.
The remaining schemes even though can be delayed a bit is also cash-demanding. Meanwhile, Jagan claims the State was running on overdraft and the debt burden increased to ₹2.58 lakh crore from ₹97,000 crore post bifurcation in 2014. He said debt servicing, including interest payments, was at ₹40,000 crore.
