VIJAYAWADA: Finance and Legislative Affairs Minister Buggana Rajendranath said the CAG (Comptroller and Auditor General of India) report only commented on policy issues and not government transactions.
On Friday, Buggana refuted former Finance Minister Yanamala Ramakrishnudu point by point for his comments against the state government over the financial situation of the PA citing the CAG report.
He said the administrative delay in some financial transactions was due to the Comprehensive Financial Management System (CFMS) installed by a third party during the TDP regime. Besides bifurcation and Covid, Buggana blamed the former TDP regime for the state’s financial problems. .
Stating that the CAG report focused on the financial transactions of the first four years of TDP rule, he said, “During the TDP regime, Rs 17,000 crore was borrowed against FRBM standards and the same was underlined by the Union Ministry of Finance. Following this, restrictions were imposed on the current government on borrowing.
Regarding special invoices for fiscal year 2020-21, Buggana said the name special invoices was coined to identify accounting adjustment transactions in the CFMS system. “Yanamala forgot that in 2018-2019 no less than 98,049 similar accounting adjustment transactions were made when he was finance minister,” he said.
Special invoices to the tune of Rs 26,839 crore were accounting adjustments as there was no centralized processing software for CFMS, he added and blamed the TDP chief for raising the issue several times. repeated despite clarifications. tracked and there are no more special bills,” he explained.
On the state government’s misappropriation of funds from the 14th finance commission to pay bills from local bodies to discoms, the minister said: ‘Thanks to the TDP rule, local bodies had not paid the bills of electricity amounting to Rs 5,000 crore to discoms, pushing them into a crisis. When the discoms were ready to shut off power to local bodies, the state government stepped in.
To rebut Yanamala’s claim that the state recorded the lowest growth rate in 2020-21, Buggana State’s own tax revenue fell by Rs 8,000 crore, while Rs 7,130 crores of rupees have been spent to deal with the Covid pandemic. by 30%, he said the budget deficit in 2021-22 was Rs 10,000 crore lower than in 2018-19.
VIJAYAWADA: Finance and Legislative Affairs Minister Buggana Rajendranath said the CAG (Comptroller and Auditor General of India) report only commented on policy issues and not government transactions. On Friday, Buggana refuted former Finance Minister Yanamala Ramakrishnudu point by point for his comments against the state government over the financial situation of the PA citing the CAG report. He said the administrative delay in some financial transactions was due to the Comprehensive Financial Management System (CFMS) installed by a third party during the TDP regime. Besides bifurcation and Covid, Buggana blamed the old TDP regime for the state’s financial problems. . Stating that the CAG report focused on the financial transactions of the first four years of TDP rule, he said, “During the TDP regime, Rs 17,000 crore was borrowed against FRBM standards and the same was underlined by the Union Ministry of Finance. Following this, restrictions were imposed on the current government on borrowing. Regarding special invoices for fiscal year 2020-21, Buggana said the name special invoices was coined to identify accounting adjustment transactions in the CFMS system. “Yanamala forgot that in 2018-2019 no less than 98,049 similar accounting adjustment transactions were made when he was finance minister,” he said. Special invoices to the tune of Rs 26,839 crore were accounting adjustments as there was no centralized processing software for CFMS, he added and blamed the TDP chief for raising the issue several times. repeated despite clarifications. tracked and there are no more special bills,” he explained. On the state government’s misappropriation of funds from the 14th finance commission to pay bills from local bodies to discoms, the minister said: ‘Thanks to the TDP rule, local bodies had not paid the bills of electricity amounting to Rs 5,000 crore to discoms, pushing them into a crisis. When the discoms were ready to shut off power to local bodies, the state government stepped in. To rebut Yanamala’s claim that the state recorded the lowest growth rate in 2020-21, Buggana State’s own tax revenue fell by Rs 8,000 crore, while Rs 7,130 crores of rupees have been spent to deal with the Covid pandemic. by 30%, he said the budget deficit in 2021-22 was Rs 10,000 crore lower than in 2018-19.