Trade growth fell by 11.1% under Jagan rule: Yanamala
GST collections down by 34% in first 5 months
JCB, ACB, PCB policies chased away industries
AMARAVATI: Former Minister and TDP senior leader Yanamala Ramakrishnudu on Wednesday advised Chief Minister Y.S. Jaganmohan Reddy to check ‘hard facts’ before making false statements on the economic, trade and financial performance of AP in his two-year rule.
Mr. Ramakishnudu asked how the CM could claim big victories in the industrial and trade sectors when the actual figures exposed a deepening crisis. Both the sectors literally collapsed on account of the atrocious, retrogressive policies of the YSRCP regime. Mr. Jagan Reddy was not hesitating to betray even the traders and industrialists by giving wrong figures and by making false claims on progress and development.
In a statement here, the TDP leader strongly objected to the statements made by the Chief Minister at the ‘Vanijya Utsav’ held by the State Government. The CAG reports, socio economic survey and budget figures showed a sharp decline in the economy and allied sectors. When compared to the previous TDP rule, the performance of the YSRCP regime was dismal. The State had a growth rate of 12.2 percent in trade and allied sectors during 2017-`19 as against 1.1 percent during 2019-`21. There was a big difference of -11.1 percent.
Mr. Ramakrishnudu deplored that when compared to the TDP rule, the growth rates came down by 5.2 percent in industries sector, 3.2 percent in manufacturing, 6.4 percent in construction, 3.1 percent in real estate and 7 percent in services sectors under the Jagan regime. During the first five months of 2021-`22 financial year, the GST collections of AP came down by 34 percent. This showed the dismal performance of the State. The huge loans and revenue expenditure did not improve living standards. Whereas, the ruling YSRCP leaders became the neo and ultra rich in a short time.
The TDP leader referred to the absence of capital expenditure during the YSRCP rule. In addition, industrial investments came to a standstill and it triggered severe unemployment problems. No domestic and foreign investments in AP. In May this year, the unemployment rate in the country was 11.9 percent while AP showed 13.5 percent. In the field level, the AP joblessness rate rose to 15 percent. Adverse conditions were prevailing in economic, industrial, trade and business sectors since the YSRCP came to power.
Mr. Ramakrishnudu said that AP stood in 13th position in FDI at the national level during 2020-`21. The State got just Rs. 673 Cr FDI which was just 0.1 percent. Whereas, in 2018-`19, during the TDP rule, AP got Rs. 23,882 Cr FDI and stood in 4th place. The J-tax collections and the JCB, ACB and PCB policies of the Jagan regime were driving away industrialists from the State. The YCP’s massive corruption and multi-crore loans had pushed AP into debt trap and bankruptcy. Even for salaries, they were forced to take loans.
The TDP leader advised the Chief Minister to start focusing on development by changing his anti-people policies. Already, the overall loans of the State had crossed Rs. 5 lakh crore. The YCP rulers should open their eyes to see reality and stop destroying the State with their thoughtless policies.
