Hyderabad, Feb 23: Andhra Pradesh Congress Committee (APCC) said today that the budget presented by Chandrababu Naidu government is an eye-wash and the whole exercise is to mislead the people about the sinking economy of the state. Reacting to the budgetary proposals presented in the state assembly yesterday, APCC spokesman and former Finance Minister K Rosaiah told reporters here today that "the state economy, which is already in the doldrums, will further deteriorate if the uneconomical measures proposed in the budget are implemented." Irrigation and agricultural sectors were promised major share while the budgetary allocations are meager and likely to hit further the rural economy, he warned. Rosaiah said the heavy borrowings by the government during the last five years is likely to touch Rs 57,000 crore by the end of next year which is the cause of serious concern. Criticising the Chief Minister N Chandrababu Naidu for his "hypothetical planning" of the state, Rosaiah said this would lead to a disastrous situation and demanded urgent corrective steps to set the economy right.
Bureau Report