BRS MLC Kalvakuntla Kavita made serious allegations against Revanth Reddy Sarkar, saying Government is trying to raise money from stock market by mortgaging 1.75 lakh acres land belonging to Telangana state. Finding fault with CM Revanth Reddy for presenting Telangana as a bankrupt state, Kalvakuntla Kavitha demanded Government to come up with a white paper on Telangana state financial situation.

“CM Revanth Reddy is planning to mortgage 1.75 lakh acres belonging to Telangana state in the stock market and raise debts. These lands which are under the supervision of Telangana Industrial Infrastructure Corporation Limited (TGIIC) are being used by Revanth Reddy Sarkar to raise money and loot
Telangana,” said MLC Kalvakuntla Kavitha speaking at Telangana Bhavan in Hyderabad on Monday.

“While KCR protected Government lands and ensured that TGIIC has 1.75 lakh acres with it, CM Revanth Reddy is trying to sell or mortgage those lands. To ensure that these lands are mortgaged in stock market and with financial institutions, Telangana Govt has converted TGIIC into public limited company secretly,” further said MLC Kavitha, making serious allegations against Congress Government.

Saying that she has credible information regarding this, Kalvakuntla Kavitha questioned CM as to, why Government changed TGIIC into a public limited company and kept it a secret.

“While former CM KCR brought loans to develop Telangana and launch welfare schemes, CM Revanth Reddy is bringing loans to fund their corruption. CM Revanth Reddy Govt brought 1.80 lakh crore loans in the past 16 months. Only Rs 80,000 Cr have been used to repay loans and interests, while Rs 1 lakh crore have been siphoned by CM and his colleagues,” pointed out Kalvakuntla Kavitha.