Jagan Blasts Chandrababu Govt Over ‘Bogus’ GSDP Data, Demands Corrective Steps

YSRCP president and former Chief Minister YS Jagan Mohan Reddy slammed Chief Minister N Chandrababu Naidu over Andhra Pradesh’s GSDP (Gross State Domestic Product) and accused him of inflating the numbers.

Refuting reports indicating that the State stood second with a GSDP of 8.21%, Jagan pointed out that MOSPI (Ministry of Statistics and Programme Implementation) only released the data received from the Directorate of Economics and Statistics of the respective State Governments. “This means the data, released by State governments, has not been validated by MOSPI. Additionally, the numbers have been projected based on advanced estimates of FY 2024-25,” Jagan observed.

Emphasizing that Andhra Pradesh’s tax revenues in the first 11 months of FY 2024-25 grew only by 2.16%, the former Chief Minister expressed shock at how the State’s GDP grew at 8.21%.

“If any economist were to delve deep into these numbers, the State of AP would lose its credibility as the fact that the figures have been inflated to conceal the real economic distress is evident from the fiscal performance during the first year of your Government, would become apparent,” Jagan wrote in a post on X.

Citing examples to explain his stance, the YSRCP president pointed out that tax revenues in India grew by 10.87% in the first 11 months of FY2024-25 in comparison to the same period last year, and the GDP stood at 6.48%. In Tamil Nadu, tax revenue increased by 13.01% and GSDP by 9.69%. Maharashtra saw a 15.72% spike in tax revenues and GSDP at 7.27%.

Terming the numbers projected by other States as justifiable, Jagan said, “This is appropriate because taxes are levied on consumption and investment expenditure at current prices, and Real GDP growth is inflation adjusted. Tax revenues indicate the buoyancy in an economy and their growth would be almost comparable to that of the economy.”

Tax revenues are directly proportional to the GDP, meaning if the Gross Domestic Product rises, tax revenues spike too.

Accusing the Chandrababu Naidu-led government of resorting to propaganda in a bid to show the State’s economic performance in good light, the former Chief Minister claimed that had it not been for the increased receipt of share in Central taxes and debt receipts this year, the TDP government would not have been able to meet even basic expenditure. “This was purely a consequence of your misgovernance and myopic policies,” he lambasted Naidu.

Jagan also pointed out that non-tax revenue registered a year-on-year decline of 33.35% in the first 11 months of FY 2024-25 and capital expenditure registered a year-on-year decline of 42.78%, despite the non-existence of adverse challenges.

Firing salvos at the coalition government, Jagan highlighted the state of Andhra’s economy under the YSRCP regime, stating, “During 2019-24, the State Government’s performance was worthy of appreciation, given the fact that, despite the impossible odds such as the Covid-19 pandemic, the growth of State Governments liabilities was limited to 13.57% CAGR (Compound annual growth rate) compared to a CAGR of 22.63% during 2014- 19 (under TDP).”

“One look at the fiscal performance will convey the extent of distress and plunder in the State. Despite this, you (Naidu) persist on the lie that State’ economy is galloping,” he observed. 

Demanding the TDP government to explain how such a robust economic performance is justifiable when its lacklustre fiscal performance over the past year is evident from the growth in revenues, Jagan sought the State government to “do away with the over-estimations in the larger interests of the integrity and reputation of the State.”

In the larger interests of the integrity and reputation of the State Government, I am attaching a note conveying my views on the fiscal and economic performance of the State during 2024-25.

Please refer the link for the complete Document - https://t.co/pe8dOvDoGB pic.twitter.com/gMMapkzvuT

— YS Jagan Mohan Reddy (@ysjagan) April 7, 2025