Hyderabad: The Comptroller and Auditor General (CAG)’s report has taken the steam out of the Telugu Desam’s accusations of financial bungling by the Y.S. Jagan Mohan Reddy government. It highlighted the mismanagement under the chief ministership of N. Chandrababu Naidu.
The ‘State Finances Audit Report 2019’ tabled in the Andhra Pradesh Assembly on the last day of the winter session on Friday referred to several instances of financial mismanagement like diverting employees’ insurance fund, unproductive investments, excess dependence overdraft facility and failure to contain revenue deficit.
After losing power last year, the Telugu Desam has made the alleged financial mismanagement by the YSRC government a major issue to target the Chief Minister. Y. Ramakrishnudu, former finance minister and senior TD leader, has several times demanded imposition of financial emergency in the state to “save” it from further bankruptcy.
The CAG mentioned in its report that…