YSRCP chief YS Jagan Mohan Reddy on Tuesday alleged that the TDP Government's advance estimates of Gross State Domestic Product for FY 2025-26 are 'deceptive', and significantly differ from the CAG audited account.
Jagan's remarks came a day after Chief Minister N Chandrababu Naidu asserted that the southern state's fiscal performance is better than the national average.
The former CM alleged that the government's financial figures differ significantly from the audited accounts of the CAG.
"The Government may publish advance GSDP estimates as it wishes, but it cannot alter the CAG-audited State accounts that reveal the true fiscal picture," said Reddy in a post on X.
According to Jagan, the latest accounts indicate abysmally low revenue growth, unprecedented levels of borrowings, weak capital spending, shrinking consumption and investment, and alarming fiscal and revenue deficits.
He alleged that rampant corruption is resulting in State revenues being "plundered", contradicting the NDA alliance government's narrative that the economy is performing strongly.
Jagan claimed that the government is attempting to convince people that the economy is booming despite mounting fiscal stress and weakening economic fundamentals.
He recalled Abraham Lincoln's words, "You can fool all the people some of the time and some of the people all the time, but not all the people all the time," asserting that the figures expose Chief Minister N Chandrababu Naidu-led government's claims.
The former CM questioned why the state continues to face fiscal pressure if the economy is strong, and why its contribution to the national Gross Domestic Product (GDP) has fallen to 4.45 per cent from 4.78 per cent recorded between 2019 and 2024.
He further asked why the per-capita income rank did not improve even during the erstwhile TDP government between 2014 and 2019, despite assertions of superior economic performance.
Reddy urged people to examine the data highlighting discrepancies between Naidu's claims and fiscal trends recorded during both the erstwhile YSRCP government between 2019 and 2024 and the current TDP-led NDA coalition government. PTI MS STH ADB
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