Fiscal discipline hallmark of my govt

Chief Minister YS Jagan Mohan Reddy, in his response to the Motion of Thanks to the Governor’s address in the Assembly on Tuesday, underscored the fiscal discipline maintained by his administration despite considerable constraints.
Upon assuming office in 2019, the Chief Minister noted, the state’s debt had surged to Rs 4.12 lakh crore from a mere Rs 53,000 crore post the bifurcation of the state in 2014. Despite facing challenges such as the COVID-19 pandemic and inheriting a precarious financial situation from the previous TDP regime, the government diligently implemented welfare schemes and pursued development initiatives with financial prudence.
Jagan Mohan Reddy dismissed the assertions of his government exacerbating the state’s debt burden, highlighting the rollout of Direct Benefit Transfer (DBT) welfare schemes worth Rs 2,55,000 crore and non-DBT schemes amounting to Rs. 1,07,000 crore. He emphasised the disparity between his government’s proactive welfare efforts and the previous administration’s lackluster performance, despite comparable budget allocations.
Addressing the increase in state debt, which rose to Rs 7,03,000 crore, the Chief Minister attributed the lower growth rate during his tenure (12.13 per cent) compared to the TDP’s rule (21.87 per cent) to his government’s focused fiscal management and efficient implementation of welfare programmes.
Despite facing reduced Central funds and tax revenues, exacerbated by the COVID-19 crisis resulting in a revenue loss of Rs. 66,116 crore, the government demonstrated resilience in fiscal management, debt control, and transparent implementation of welfare initiatives.
The Chief Minister criticised the unjust bifurcation of the state, which allocated 50 per cent of revenues to Telangana, despite representing only 42 per cent of the population, resulting in an annual revenue loss of Rs. 13,000 crore for residual Andhra Pradesh.
Jagan Mohan Reddy rebuked opposition leader Chandrababu Naidu for making false election promises, questioning the feasibility of funding commitments exceeding Rs. 1,26,000 crore annually, while the government is diligently implementing welfare schemes worth Rs. 70,000 crore annually.
He accused Naidu of adopting deceptive tactics by replicating promises from other party manifestos and emphasized the government’s commitment to credibility over empty rhetoric.
Dismissing Naidu’s claims of wealth creation, the Chief Minister highlighted the failure of the previous administration to fulfil its promises and its legacy of deceit. He urged the electorate to remember Naidu’s past failures, including reneging on a Rs. 87,612 crore loan waiver promise.
Asserting his commitment to realistic promises and effective governance, Jagan Mohan Reddy affirmed the YSRCP’s credibility and pledged to deliver on their electoral commitments despite financial challenges.
He expressed confidence in the party’s electoral prospects and He announced plans to introduce a comprehensive budget in the Assembly in three months, reflecting the government’s steadfast commitment to transparency and accountability.