TaxTMI 
TaxTMI 
Jagan claims ''worsening financial stress'' in Andhra, cites CAG data
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....agan claims ''worsening financial stress'' in Andhra, cites CAG data<BR>PTI News<BR>Dated:- 26-7-2025<BR>PTI<BR>Amaravati, Jul 26 (PTI) Andhra Pradesh opposition leader YS Jagan Mohan Reddy on Saturday claimed the state’s "financial stress worsened in the first quarter of 2025-26 financial year," citing the latest data from the Comptroller and Auditor General. Reddy noted that the CAG’s month....
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....ly key indicators for the first quarter suggest a "precarious outlook" for the state's financial stability. "Fiscal stress worsened in the first quarter of this financial year. The CAG has uploaded the monthly key indicators for this period, and the figures clearly indicate a precarious outlook for the financial stability of the state government," Reddy said in a post on 'X'. He said that public....
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.... finance management—particularly in a state like Andhra Pradesh, which has been "adversely affected" by the bifurcation—is a challenging task. "Only the right quantum of government expenditure in necessary areas of welfare and development can trigger private consumption and investment, thereby promoting a virtuous cycle," Reddy said. The YSRCP chief also alleged that "rampant corruption" was....
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.... evident in the dismal year-on-year growth across various categories. He added that growth remained "subdued across all government revenue streams," resulting in a lacklustre performance in both the state’s tax and non-tax revenues during the first quarter of . "It is quite apparent that the state has lost its economic buoyancy, as evident from the abysmally low growth in some categories of go....
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....vernment revenues and negative growth in others," he claimed. Highlighting that GST and sales tax typically reflect consumption levels, Reddy pointed out that CAG data showed lower revenues under these heads in the first three months of FY25-26 compared to the same period last year, which, he noted, was also subdued. On a year-on-year basis, the state’s revenues grew by just 3.47 per cent, whi....
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....le total revenue receipts—including transfers from the Government of India—rose by 6.14 per cent in the first quarter, he noted. Therefore, the state’s reliance on sources other than its own revenues to meet expenditure is evident, he claimed. Meanwhile, there was no immediate response from the ruling TDP. PTI STH ADB<BR> News - Press release - PIB....