Can any progressive government dare talk about its poor finances anywhere? More alarmingly, CM Jaganmohan Reddy and his Cabinet Ministers have been damaging AP image even in their foreign visits. Now, it’s the turn of Finance Minister Buggana Rajendranath Reddy who talked about AP’s poor economy during his official Singapore tour without any shyness. Worried at this negative attitude, the entire opposition is saying that these YCP ‘bankrupt policies’ are causing irreparable loss to the state in all sectors.
It is being seen as a bold and reckless move for the Finance Minister to tell Singapore Government that AP has no funds to construct the Amaravati Capital City? Singapore Ministers and Officials know very well that Amaravati was developed a self-financing project which has huge economic potential in the near future. They have indirectly told Rajendranath Reddy that foreign investments and economic development would come only when necessary atmosphere is created in AP. Has this opened the eyes of AP Minister? Having 33,000 acres prime land, Amaravati’s property values skyrocketed prior to 2019 election. The Capital has 9,000 acres with potential for commercial exploitation to generate thousands of crores of rupees. Yet, YCP Circar is repeating its damaging statements at home and abroad. Analysts say that this will make it difficult for AP to get low-interest loans from any international institution in future.