Hyderabad, Aug 19 (UNI) Alleging that Andhra Pradesh Chief Minister N Chandrababu Naidu has pushed the state into an abyss of debt, YSR Congress Party (YSRCP) has said that the publicity on oversubscription of Amaravathi bonds is a farce as the rate of interest, need and terms of the issue have been shady and questionable.

Speaking to media here on Sunday, Party Senior leader and Public Accounts Committee (PAC) Chairman Buggana Rajendernath Reddy said,’ the government stating that the bonds issued by CRDA were at 10.75 per cent interest to be paid quarterly while nowhere does such a lenient clause exist and Chief Minister's son and Minister Nara Lokesh Naidu boasting of oversubscription is ridiculous and one should remember that bonds are nothing but raising loans which means increasing the debt burden of the state and there is no reason to celebrate such an event.