Hyderabad, April 24 -- Former Finance Minister and YSR Congress Party (YSRCP) leader Buggana Rajendranath Reddy alleged that the present Telugu Desam Party (TDP)-led coalition government in Andhra Pradesh by issuing Non-Convertible Debentures (NCD) they were giving direct debit mechanism access to service the bonds which is extremely harmful to the interests of the state.

Addressing the media on Thursday, former Finance Minister Buggana Rajendranath Reddy stated that the TDP government's decision to pledge all future borrowings of the Andhra Pradesh Mineral Development Corporation (APMDC) and to grant private entities direct access to the consolidated fund is highly objectionable and undemocratic.

Rajendranath Reddy said, "By issuing NC...