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Finance Minister Buggana Rajendranath Reddy has strongly refuted the Telugu Desam Party (TDP) national president N. Chandrababu Naidu’s allegations that the State finances were in a disarray and debts touched ₹13 lakh crore. TDP leaders, including former Finance Minister Yanamala Ramakrishnudu, were issuing irresponsible statements on the State finances, and baseless allegations that the State slipped into debt, said Mr. Buggana.
Addressing a press conference at the Secretariat at Velagapudi near here on Thursday, Mr. Rajendranath Reddy said that the total debts of the State government would be around ₹7 lakh crore. But the TDP levelled baseless allegations that ₹10 lakh crore was the total debt. In fact, ₹4 lakh crore debt against the total debt of ₹7 lakh crore was borrowed by the TDP government. Sweeping them under the carpet, Mr. Naidu and his party colleagues were making baseless allegations to hoodwink the people, he said.
