Financial emergency is TDP’s wishful thinking: Buggana 

Minister blames TDP for financial woes of State

Finance Minister Buggana Rajendranath Reddy on Monday described the Telugu Desam Party’s demand for declaration of financial emergency in the State as fanciful and denied that ₹48,000 crore was unaccounted for. 

He asserted that there was no scope at all for such large-scale misappropriation of funds as alleged by the TDP. 

Addressing mediapersons in New Delhi on Monday, Mr. Rajendranath Reddy said the budget for 2022-23 was not at all a statistical jugglery as the government had a detailed account for everything. 

A sum of ₹48,509 crore was in the form of special bills. A detailed report of the finances was sent to the Comptroller and Auditor General (CAG).

There were book adjustments amounting to ₹.98,000 crore during the TDP regime in 2018-19, he pointed out. 

Mr. Rajendranath Reddy further said the TDP government had entrusted the Comprehensive Financial Management System (CFMS) to private parties whereas an IAS officer was appointed as its CEO after the YSR Congress Party (YSRCP) came to power. 

He said the State’s financial woes were to be largely blamed on the TDP government, which left its successor saddled with outstanding bills totalling about ₹68,000 crore.