Andhra becomes nation’s reverse investment destination

[Armanii]

Following a series of unsavory decisions taken by the YS Jaganmohan Reddy’s government, the residual state of Andhra Pradesh has lost some major investments that would have altered the gloomy outlook of the industrially backward state. The state which has taken to “reverse tendering” to save tax payers money has slipped into the not so investment friendly territory after two major projects slipped out of its hands.

The word of caution came from the BJP National Secretary and Co-in charge of Andhra Pradesh Sunil Deodhar who has said in his tweet on 3 October that the Rs 70,000Cr investment on Data-Solar project, and Rs 15,000 Cr Reliance Electronic Manufacturing project shifted out of Andhra. “State revenues are falling short to pay Salaries and Interests alone as debt is crossing Rs 3.5 lakh Cr. Please earn and spend for freebies, don’t borrow. Wake up YS Jagan,” was his advice to the government.

https://www.deccanherald.com/national/south/ncw-team-visits-amaravati-793941.html

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