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TDP MP Lavu Srikrishnadevarayalu stated on Monday that Andhra Pradesh needs rebuilding in the next five years. Speaking on the Union Budget in Lok Sabha, he criticized the previous YSR Congress government for damaging the state’s economy and failing to attract investments. He mentioned that industrialists avoided Andhra Pradesh in the last five years due to poor governance.
Srikrishnadevarayalu commented that while giving bifurcation to Andhra Pradesh, it was not done rightly and hence, created lot of injustice towards the particular state. He appreciated the development activities undertaken in the state during the TDP regime headed by Chandrababu Naidu from 2014 to 2019 but regretted that all these achievements were neutralized in the last five years causing damage to the state exchequer. As per the bifurcation Act, he pointed out that the finance minister Nirmala Sitharaman also made the necessary budgetary provisions to support the Polavaram Project and Amaravati Capital city.
The AP Reorganisation Act 2014 obligates the Central government to aid industrial development and support backward districts, he said. The state had a Rs 24,000 crore deficit at bifurcation, which has now ballooned to Rs 9.74 lakh crore in debt under Jagan Mohan Reddy’s leadership. He accused Reddy of neglecting development and wasting resources. Srikrishnadevarayalu congratulated the Prime Minister Shri Narendra Modi for the third time and to the Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman for presenting the 7th Union Budget and urged to develop Andhra Pradesh as an International economy.
