YSR Congress party president and former Andhra Pradesh chief minister Y S Jagan Mohan Reddy on Tuesday accused the Chandrababu Naidu government of fabricating the figures on the state economic growth to hoodwink the people.
Taking to social media platform X, Jagan alleged that the state is confronting a worrying economic slowdown, which is very clearly evident from the government revenues, but the Naidu government is cheating the people with cooked-up GSDP figures to give the wrong impression that state is growing rapidly.
The state government on Monday indicated that during 2024-25, the state’s economy grew at 11.75% as against national growth rate of 9.8% and that during 2025-26, the state’s economy is estimated to grow at 10.75% as against national growth rate of 8.0%.
“This translates to a compounded annual growth rate (CAGR) of 11.09% over the two-year period 2023-24 and 2024-25,” the state government said, adding that Andhra Pradesh ranks 3rd amongst all the states this year.
Jagan said these are not figures released by any independent agency but figures prepared by Chandrababu Naidu’s office. If these figures were true, the same level of growth with respect to government revenues should also be achieved.
The CAG released figures for the first 9 months of this financial year. It is indeed shocking that during the two-year period, the government tax revenues grew at CAGR of merely 1.97%, he said.
“It would probably puzzle all the economists in the world as to how a State that demonstrates such handsome GSDP growth of 11.09% can achieve an abysmally low tax revenue growth of only 1.97%. This is possible only due to the cooked-up figures under this so called ‘visionary’ leadership,” Jagan said.
He said as per the CAG reports, amongst the 23 States, AP ranks 22nd in terms of tax revenues’ growth, which is second from the bottom.
“If there is any parameter on which AP under Chandrababu Naidu’s leadership would possibly rank first, it would be only with respect to government debt, corruption, political vendetta and false propaganda,” Jagan said.