Hyderabad, June 26 -- Former Andhra Pradesh chief minister YS Jagan Mohan Reddy has slammed the TDP-led coalition government for lacking financial discipline and disregarding the Constitutional framework following the issuance of non-convertible debentures (NCD) by Andhra Pradesh Mineral Development Corporation (APMDC).
Reddy accused the state government of exceeding half of the sum borrowed by the previous YSRCP government in five years in just 13 months through its budget and off-budget borrowings.
Taking to 'X' Reddy wrote, "It is learned that on 25th June, APMDC concluded the second tranche of its NCD (bond) issuance at a coupon (interest) of 9.30 percent and raised Rs5526 crores, taking the aggregate value of the issuance to Rs 9000...