Andhra Pradesh Chief Minister YS Jagan Mohan Reddy in a Review Meeting the other day, announced that the financial position of the state is very precarious since the previous Government has resorted to keeping bills worth 40000 Crore Pending. He asked the officials to come with ideas for Wealth Creation.
Experts wonder if Jagan is really serious about improving the economic condition of Andhra Pradesh. “On one side you announce freebies like there is no Tomorrow and on the other side, you scare the investors despite the resistance from the Central Government. You expect wealth to be generated out of thin air, they question.
“Very soon you will run out of the options for borrowings as well. Once the financial condition degrades, there will be more pressure. If there is a crisis, any sane mind would first control its spending, but there is one scheme every week in Andhra Pradesh,” the experts warn of the impending danger to the Government.
Jagan Government has spent these five or six months blaming the Chandrababu Naidu Government but the question is they can not keep doing it forever. Political Criticism will never steady the economy. At this rate, the government will be facing uncomfortable questions very soon.