Andhra Pradesh lacks fiscal discipline, picks debts through NCDs at higher interest rate: Ex-CM YS Jagan Mohan Reddy

YS Jagan Mohan Reddy criticizes the Andhra Pradesh government's fiscal management, alleging constitutional violations and imprudent borrowing. He points to APMDC's high-interest NCD issuance of Rs. 9,000 crores, secured against mineral wealth, as financially irresponsible. Jagan also claims the government granted private entities direct access to the state's consolidated fund, violating constitutional articles and increasing the state's financial burden.

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