‘YSRCP leaders looted public wealth’

Former finance minister Yanamala Ramakrishnudu has launched a scathing attack on the YSR Congress Party (YSRCP) government, accusing its leaders of widespread corruption and financial mismanagement over the past five years. In a strongly worded letter addressed to the TDP government, Yanamala Ramakrishnudu alleged that YSRCP leaders have systematically looted the wealth of the Telugu people, leaving the state’s economy in dire straits.
Yanamala Ramakrishnudu urged the government to take decisive action, proposing the use of the Revenue Recovery Act or the introduction of special legislation to reclaim the allegedly misappropriated assets of YCP leaders. He applauded the current government’s efforts to mitigate economic losses incurred during Jagan Mohan Reddy’s tenure and put forward 15 key recommendations aimed at bolstering the state’s financial health and fulfilling manifesto promises.
Central to Yanamala Ramakrishnudu’s recommendations is the implementation of the Comprehensive Financial Management System (CFMS) for transparent bill payments and seeking revenue regularization from the Center. He advocated for securing reasonable fixed loans and increasing grant-in-aid to the state. Yanamala emphasized the necessity of prudently managing Ways and Means advances and Overdrafts (OD), ensuring that welfare schemes reach deserving beneficiaries only.
Furthermore, Yanamala Ramakrishnudu stressed the importance of cutting costs, plugging leakages in capital expenditure, and transforming Andhra Pradesh into a thriving industrial hub while safeguarding natural resources. He underscored strict adherence to the Financial Responsibility and Budget Management (FRBM) Act to uphold fiscal discipline.
“Temporary control of the fiscal deficit will pave the way for a sustainable reduction in the years ahead,”
Yanamala Ramakrishnudu asserted, highlighting the imperative of combating corruption to foster an environment conducive to economic progress and prosperity. He expressed confidence in Chandrababu Naidu’s leadership and commitment to good governance, envisioning sustainable economic growth under his stewardship.
The TDP has long accused the YCP government of rampant corruption, particularly in sectors like liquor, sand, and mining. An internal investigation is underway to quantify these alleged misappropriations, with plans to identify and legally pursue those responsible.
Yanamala Ramakrishnudu’s proposal for a dedicated law targeting the recovery of assets allegedly looted by YCP leaders has sparked widespread public interest and debate.
As Andhra Pradesh confronts formidable economic challenges, Yanamala Ramakrishnudu’s bold assertions and comprehensive recommendations are poised to shape discussions on governance and economic recovery across the state.