Former finance minister Bugganna Rajendranath Reddy, who was silent after his defeat from Dhone constituency in Kurnool district, has suddenly appeared in the media last week commenting on Chandrababu Naidu’s white paper on economic mess during YCP regime.
According to sources, soon after election he has lobbied extensively for an entry into BJP meeting several central and state-level leaders. However, after BJP denied him an entry, he has decided to settle with YCP.
As key minister in YS Jaganmohan Reddy regime, holding the finance ministry, he was part of the government’s economic mess and pushed the state into indebtedness. He was said to be the brain behind bringing indiscriminate loans in the names of various government-owned corporations and diverting central funds for his `pressing button’ schemes.
From the very beginning Jaganmohan Reddy gave him importance. Even before coming to power as leader of opposition he nominated Bugganna as Chairman of the crucial Public Accounts Committee, normally headed by an opposition leader. Jaganmohan Reddy had chosen the first time MLA for this coveted post denying the claims of senior leader Jyothula Nehru, which forced the later return to TDP.
He continued as finance minister even while most of the ministers were removed giving way to other aspirants. Though Jaganmohan Reddy has treated him with utmost priority, soon after the disastrous defeat of the party in the election, he is said to be feared to continue in the party which may cause harm to his business interests and also he may be held responsible for the financial irregularities during Jagan’s regime.
After asserting that both TDP and Jana Sena leadership was inclined to admit him into their parties, he tried hard for an entry into BJP. During this period, he was to be inaccessible to YCP leadership. Only after failure of all such efforts, finally he seems to have decided to settle with the YCP. That’s why after elections for the first time he was seen before the media from Hyderabad in defence of his government.
He labeled Chandrababu’s White Paper as an `Excuses Paper’, as it didn’t contain any `Action to be taken Report’ or even how to revamp the economy if it collapsed during the YCP regime? He found fault that Chandrababu mentioned only problems in the government, but failed to propose any measure to resolve.
