Commentators, especially middle class people, are coming out with sharp reactions to the defensive arguments made by the YCP Government on the issue of huge loans. Chandrababu Naidu has also procured massive loans in his time but there was a balance of development and welfare at that time. They used to support their arguments saying the loans were used in developing basic infrastructure in health, education, agriculture and other sectors.
Now, the situation has become quite strange. The Jagan regime has come out with a smart argument that it has not not misused the huge loans but only distributed them towards cash benefits being given to the poor people. But then, the question is raised whether this massive welfare spending has helped in raising the living standards and spending capabilities of the poorer sections in a big way.
The middle class sections, who consist of the largest tax paying segment, are particularly concerned over the manner in which the YCP Government tried to defend its bringing huge loans. While the ultra rich default the banks and get away with that, the poorer sections are getting cash benefits from the Governments enough not to work. Eventually, it is the middle class segment and employees and small businesses who are made to suffer.
If the Government goes on bringing huge loans to give free cash benefits to the poor, then how it has to be repaid. The Government itself is saying the revenue has fallen by 3.37 percent during 2019-2020. The YCP arguments have undoubtedly triggered greater concerns like never before on the economic situation and State debts among the people.
unfortunately again it’s tax paying public in one form or the other, results of misjudgements, broken promises
along with tax all the schemes will also come to grinding halt look at Venezuela AP is in exact same trajectory but luckily we are part of india
please name one development made by CBN . except getting couple of companies no development happened in AP . schools and hospitals are same situation . no major ports are developed during 2014 to 2015 . except pattiseema ( this is also possible only because of YSR polavaram left canal ) no major project got completed . Not even R&R paid properly . i don’t know what development he made . CBN development CM is publicity stunt carried out by TDP paid media .
Andhra Pradesh got investments of Rs 1.39 lakh cr between 2016 and 2018 How many investments came during jagan govt?(Zero) AP govt was not even invited for world economic form meeting at Davos
so five years 1.39 lakh cr .. is it MOU or actual investments . if it is MOU most of them are bogus numbers . if it is real investment numbers please provide any official link for the same .
Companies are starting and expanding capacity in economic zones . 1 year corona .. it will take time to get new companies in this difficult times .. wait for some more time ..
Andhra Pradesh got investments of Rs 1.39 lakh cr against MoUs for Rs 12.32 lakh cr signed during TDP govt
Investments in Andhra Pradesh in 2015 (single year) lets see if Jagan can do this in five years of his term
a) In April 2015, I & PepsiCo’s Indra Nooyi inaugurated a beverage plant of PepsiCo at Sri City with investment of Rs.1,200 crore. Additionally, facilities of 11 global companies, encompassing Rs.980 crore worth investments also were inaugurated. laid foundation stones for another 11 units at worth Rs.1,000 crore were laid
b) Global Pharma major Mylan is investing additional $5 billion in Andhra Pradesh to expand presence.
c) During the Industry Mission Launch on April 29, 2015, AP government has signed 47 MoUs with companies from India Japan, UAE, Canada, etc, attracting a total investment worth Rs.35,745 crore (around $5,600 million). The MoUs signed fall under sectors such as petrochemicals, energy, infrastructure, electronics, manufacturing, food processing, textile and automobiles.
Some of the marquee investments proposed are:
i) HPCL has proposed to set up a Refinery with proposed investment of Rs 17,000 cr
ii) VEM Technologies is setting up a Aerocity with proposed investment of Rs 2,000 cr
iii) Jai Raj Ispat Ltd is setting up a TMT bars manufacturing unit with proposed investment of Rs 3,000 cr
iv) MoU has been signed with 18 ancillary Industries attached to ISUZU India Limited at Sricity with a total investment of Rs.900 Crores
d) Guizhou International Investment Corporation (GIIC) from China has signed an MoU with GMR Group for development of an Industrial Park in KSEZ (Kakinada SEZ Pvt Ltd) for manufacturing by Chinese High End equipment companies at a proposed investment of approximately USD 500 million.
All these facts were there in all major media but not in our beloved sakshi. So these won’t count.
Or all these would be called as fabricated, even if the actual companies are actually running.
Polavaram progress was called a bogus until officially mentioned as 70%. R&R is outside the progress of the project. 70% is purely the progress made in the project. And let’s see what progress happened in 2 years. You can celebrate if it’s more than 5% in 2 years so far. All the gates for which trial run is happening was suppose to happen long back.
No point giving data to them. They will either call it fabricated or don’t belive it. Like the actual investments and MoUs of investments was prominently mentioned even in assembly but looks like they are not aware about it. As Sakshi never mentioned such facts.
Why highlight Sakshi, do you think ABN and Eenadu are good ? Each paper has their own political interest like this site.
You are contradicting your own statements, you say that the project is 70% complete and the gates should have been completed long time back. Does that mean TDP government didn’t complete it ?
Keep watching Polavaram was made reality by YSR and it will be completed by his son. That’s what God has decided. He is a fighter no matter how much trouble people have him by accusing and booking him in false cases and jailing him for 16 months. People still love him and voted him to power.
Do you remember the first deadline of Jagan have after becoming the CM. It was Dec 2020. We are suppose to complete the project 100% by then as per Jagan only.
But with the change of vendor that got pushed completely and there was no progress until Aug 2020. After that also work is not happenings at its own pace. Now the new deadline is 2022 April. Let’s see if that happens.
Do you think someone who is so sincere about completing a project will prefer to complete it fast or change the vendor and delay it? The savings of reverese tendering are not even worth the value of the project was completed on time. But the priority of govt was not in completing it, but somehow convince that there was some corruption to guys like you and hence changed the vendor.
Previous government completed more than 50% during its tenure, which was misguided by the entire blue batch as if nothing was done. But still credit goes to YSR. Very good thinking.
Delayed it for the wider good of the state. There is a saying in telugu. Pacha kamralu vadiki lokam antha pacha ga ne kanapaduthundi. Thats why you keep saying about reverse tendering. He gave contract to a company that has successfully completed a similar project in the neighbouring state onetime and on budget. He does want to complete it including the R&R element of the project. Not like TDP government who according to Modi ji used the project as ATM.
You are continuing the same allegation of corruption in polavaram and it being used as an ATM. Flawed statement by any means. How can a project which has prior approval about it costs be corrupted? Why was not any of that brought out to public but insted this govt also saying to release the funds given the work is complete. At no point the current govt after coming to power said there was corruption or it was used as an ATM. Those are the statements before elections to project the govt in bad light which never happened.
Navayuga has done a far superior job during their term than megha doing now. You can wait for another one more year to know the progress that was done in the past by prev govt and the progress that will be made until April 2022. The current pace is not even half of the pace it was during those 3 years when nava yuga was doing. But you don’t want to listen or know the facts on that side thinking it’s all marketing… It’s a simple stat of a project with around 20% reached 70% in nearly 3-4 years with work being done with literally hundreds of trucks and round the clock work. Currently that is not happening. But you still want to buy in to the statement they Polavaram was used as an ATM.
Regrading better good, How can delaying a project by nearly 2 years is of better good for the state?
Regarding pacha kamerla you should consider why you were not able to see the positive side of the amazing job done by navayuga and CBN in making such a good progress to the Polavaram.
Wow really. So how many times during the CBN regime they were floods which halted the works how many times during the CBN rule were the works halted due to a pandemic. So, you don’t want to take all these into consideration. Even when the reverse tendering was in process there was no works that can be done because of the prevailing flood situations. You won’t take all these into consideration and say that 70% of works were completed by CBN in his 5 years term but Jagan haven’t even completed the remaining 30% of works in approx 2 years. Wow. Monday blowing.
Anyway it doesn’t matter who completed what. It matters which government has completed the project. And it will be Jagan. You lot keep crying on him which inturn gives strength and blessings
Do you think all these companies would have signed MOUs if the economy situation is what it is like today? Post the pandemic big big developed countries like US,UK and China are struggling. How can you expect a small state with deficit revenue budget is going to make these Multi nationals to invest when the prevailing economic situation of the country itself is not great. Take your first example Pepsi and co, did they do any new investment since pandemic started ? Hence the present government is looking at MSMs, which is the business model of how China developed
And one more thing people are not mad. If all these investments that you are saying are true and people can see and benefitted from these investment they would have definitely voted for TDP like they did when he was voted to power the second time in combined state.
Because of his experience people have voted for him thinking he would do good for new state but he acted as a Head of a multinational corporation company instead of a head of a state.
what do you mean true companies are there?. employees are getting paid they are paying GST to state u can look at their addresses and campuses. Jagan became cm on 30 may 2009 pandemic started april 2020. what did he do for whole one year ?. there have been two investor summits since he came to power AP wan not invited and there have been not even a single MoU.businesses are important because they provide goods, services, and jobs hence GOVT can collect GST and decrease loan burden.if AP govt goes this trajectory it will soon go bankrupt and will have the ill reputation of being the first state in whole of India in doing so.
You are talking as if you are an expert in economics ? You might be however your argument is one sided. Each government have there priorities and preferences, yes Jagan is implementing welfare schemes and borrowing money by getting money because the previous government has not left any money. I am not blaming it on CBN because the state due to bifurcation has deficit budget. Let’s not even go nearer why the state was bifurcated and who’s responsible. Jagan has seen the difficulties the poor people are having because lack of proper education and lack of proper health infrastructure and hence he has been concentrating on improving their life’s and completing the promises on which he went to elections. Name how many politicians has done that. I.e. implementing the manifesto promises.
Regarding you comment on Pandemic, yes Jagan came into power in May 2019 (not 2009) okay and the pandemic hit us in early 2020. So, you want an incumbent government to start getting investments into the state within 7 month. Don’t you think its a flawed argument ?
Do you need to be expert on economics to understand taking too much of loan can lead to economic bankruptcy? jagan came to power in may 2019 pandemic affected india in april 2020 11 months time not even single investment. u need to have jobs so people can have a good quality of life rather than talking money from Govt. There is a thing called self respect. loan taken by AP govt (April to November 2020 alone Rs 73,811.85 crore was borrowed from different sources as against the annual target of Rs 48,295.59 crore for the whole year)is twice that of uttar pradesh(UP is 4 times bigger in size and population ) took only 29 thousand crores. total amount borrowed by AP is Rs 3,73,140 crore(3.7 lakh crores) interest around is alone 45,000 crores. how are u going to repay interest and loans if u are not increasing Revenue sources(create Jobs). my sources economic times ,financial express, Business insider India and other economic articles.the website moderator is not allowing to paste links of my sources.
You are comparing UP with AP which is a new state. He is increasing revenue sources by encouraging MSMs, doesn’t have to be big mncs only. All those sources you are quoting how much do they know about the economic and life situation of AP. Self respect is not for just some people of the society, it has to be for everyone. Poor people needs self respect as well, by providing the Welfare schemes Jagan is trying to get nice and quality education for those who couldn’t afford, give them access to quality health. So, according to irrespective of prevailing economic situation you want companies to invest. Great logic.
Nikita Khrushchev Quotes”Economics is a subject that does not greatly respect one’s wishes.” u can argue what ever u want but if a state does not increase revenue and keeps on borrowing It will go bankrupt.50% of revenue is being used to pay just interest. once you go bankrupt no one will lend you money.look at “venezuela crisis”
And also you seem to have access to lot of info on economy of AP. Could you please enlighten me on the fact why previous TDP regime even after bringing so many investments into the state and generating revenue had to borrow money and leave without paying some of the bills ?
Jagan govt kicked out following companies (all souces are from finacial express india)
1) Lulu Group International, a United Arab Emirates-based conglomerate, has announced that it has no intention of making any fresh investments in Andhra Pradesh “given the current scenario.” The announcement follows a decision by the state cabinet on October 30 cancelling allotment of land made to Lulu Group during the TDP regime for developing an international convention centre in the port city of Visakhapatnam. The company was to invest Rs 2,200 crores to build an International Convention Centre, a shopping mall and a five-star hotel to provide global exposure to Visakhapatnam as a convention and shopping hub and create nearly 7,000 jobs.2) A Singapore consortium has opted out of the Amaravati capital city start-up area project with “mutual consent” after the government terminated a contract signed with it by the previous government. The consortium, comprising Ascendas Singbridge and Sembcorp Development, was set up in 2017 to develop a 6.84-sqkm start-up area in the new capital in three phases over a period of 15 years.3) Reliance Group considering withdrawing from the proposed mega electronics manufacturing project near the temple town of Tirupati.4) Adani Group’s Rs 70,000 crore solar-powered data storage and technology park in a limbo. The company has ignored the government’s directive to submit an alternative proposal.5) The government to review the agreements signed by the previous regime with Reliance Industries Limited (RIL) for the Rs 52,000 crore project covering oil and gas and electronics sectors.6) Indonesia’s Asia Pulp & Paper (APP), which entered into a MoU with the state government last year for one of the biggest Foreign Direct Investments in the country amounting to Rs 24,000 crore for a greenfield pulp and paper plant in the state’s Prakasam district, is understood to have withdrawn its plans.7) The flight services to Singapore, the only international air travel service from the coastal Andhra city of Vijayawada, has been terminated. This followed the government’s decision not to renew the Viability Gap Funding (VGF) agreement with Indigo Airlines which was operating the bi-weekly non-stop flight.
Jagan governors already given the reason why they have to take back the agreement they made with LULU group. Building five star hotel, convention ct and shopping mall is of no use for the below poverty line people. That’s what I am trying to say Jagan government priorities are below poverty line people and he is trying to improve there life by implementing the welfare schemes. Coming to you argument of too many loans without proper development is not right and state going to bankruptcy and no one giving lones is problem for Jagan to deal with and hence he is trying to generate revenue by supporting MSMs. He is concentrating on improving human resources,skills development to support all the MSMs even if they are no big manufacturing companies are coming forward due to prevailing pandemic situation. Take example of China. Majority of income China gets is from these MSMs which in direct support these so called big manufacturing units. Invest 1cr in a MSMs it gives employment to around 20 people. Invest the same 1cr in big industries due to the automation that’s involved employment is provided to only 4 people. Based on that ots better to develop MSMs rather than giving valuable state resources to these big manufacturing companies for little benefit.
Read some financial articles and newspapers rather than Sakshi News and Sakshi News paper then you will get some idea. what is this China model your talking about? I don’t seem to find any article substantiating your information in the Web. Is China model was so good why are other countries not following? the model only Jagan knows the secret of. All my sources are from reputable financial websites what are your sources other than Sakshi News paper and channel tell me some financial numbers that makes sense of Jagan government you pay half of your income in interest for the first two years for the next three years all your income revenue will be go to interest payment what are you left with?
No need to be rude. These are not from Sakshi.The MSME sector contributes to 45% of India’s Total Industrial Employment, 50% of India’s Total Exports and 95% of all industrial units of the country and more than 6000 types of products are manufactured in these industries (As per msme.gov.in). When these industries grow, the economy of the country grows as a whole and flourishes. These industries are also known as small-scale industries or SSI’s. That’s what Jagan is concentrating on. Stop reading ABN and Eenadu and stop watching TV5.
You know quite a lot about economics so find out yourself about China’s SSIs and MSMs. I don’t need to justify myself.
May I suggest you economic book, “wealth of nations” by Adam Smith is the father of economic theory Scottish economist please read this book to gain some perspective. All PhD MBA financial experts on one side the other side will be JAGAN Anna. who me do we trust Jagan Anna because he won an election and a financial genius.
Thanks for the suggestions. Let’s agree to disagree. I don’t need any classes in economics now. I have my theory you have yours. Thanks for the debate.
Income from IT sector in Hyderabad for the year 2020 is 77000 crores how many small MSMs will you set up to match this does it make any economic sense read some financial articles and newspapers may suggest Business Insider, Financial Express, Economic Times
Andhra Pradesh got investments of Rs 1.39 lakh cr against MoUs for Rs 12.32 lakh cr signed during TDP govt . how many MoUs Ddid jagan sign?
let alone new companies coming here list of companies that left AP
ADANI data center : They started developing initial phase of project in vizag who already started development like laying roads etc.
RELIANCE : They shifted to hyderabad.
ASIAN PAPER : One of the biggest paper mill in the world which was about to start in PRAKASAM district which would have changed the fate of farmers has left AP.
HCL : Planned to start in SEKHAMURU in AMARAVATHI which is running vijayawada and planned to increase the resources to 5000 left to chennai.
TCS : Planned to start in AMARAVATHI has left to Telangana now
moderator is not letting me post any links . if u google the info will be found in financial express India website hope you find the info credible “Andhra Pradesh got investments of Rs 1.39 lakh cr against MoUs for Rs 12.32 lakh cr signed during TDP govt”
Current Jagan gov is 1000% better than CBN gov . Schools and hospitals are developing . for schools itself 15 thousand cr + and hospitals around 5000 cr + . new medical colleges 12 thousand cr + . 10 new fishing harbors 3000 cr . R&R paid to important projects like gandikota (750 cr ) and CTBR (250 cr ) . Velugonda first tunnel completed and second tunnel is going to complete in another 1 year . so many canals capacity canals capacity is expanding . lot many like this
Chandrababu Naidu brought eight IT companies to Tirupati(Zoho Corporation, AGS Health, Exafluence, Naestech, YIIT, ANS, Ingenies, and Parikar)
How many did jagan bring ? ZORO ZILCH
if you give more feebies companies will automatically start . I already told you .. except getting companies ( after giving more feebies) what development activities he did .
So you expect companies will come from other states and other countries with out offering them any thing in return. So all the IT companies in Bangalore and Hyderabad are coming with out any incentives and goodness of their heart. Don’t you want any jobs? Can you see polavaram was completed by around 70% May 2019(as stated by buggana rajendra prasad in assembly).
70% polavaram .. ha ha big joke who will complete R&R and how many houses are constructed to re allocate … ?
Every state is giving feebies but you should not give more feebies just for getting companies . if they provide less jobs it is not much usefull .. you still did not provided the details how many jobs kia created how much feebies provided for kia or any company . give me details ?
getting the companies alone is not a development . only one or 2 places will improve because of this companies . this wont give much impact except manufacturing companies lie Kia ..
Stop your illogical and non sense talk
stop lies jagan in his own cabinet meeting agreed to 71 % completion of polavaram . Jagan loan bubble will burst soon .where is development in health care sector aryogya sri is stopped in most hospitals due to pending dues of more than 8 months. in BC hostels food is stopped due to non payment of dues. retired employers pension is getting delayed.
contactors have pending of more than 20,000 cr
govt employee salary and DA dues are more than 6500 cr
AP is ready to colapse the above are indicators
ha ha 70% on what spill way ..what about gap1,gap2,gap3 and R&R houses . not even a single house constructed .. the same document is giving only 39% total project is completed .. ha ha stop your fucking lyes .. don’t think this is 1995 . every one know what is happening .
2000 cr argya sree is pending bills are paid by this gov . every 3 months this gov is releasing 200 to 300 cr for argya sree … ha ha it is better than CBN gov .
those pending bills from CBN gov . it is also tractors scam like that . so gov is verifying each and every work from pending bills . On paper tractors are there but 900 tractors got missing . ha ha
come out of the bubble and check facts. good joke 90% of hospitals have now stopped aryogya sri check facts.
the fact is ysrcp has taken loan of 2 lakhs crores and could not increase revenue.
Just wait for some time and see ysrcp loan bubble will burst soon
పోలవరం మేమె ఆపామని డైరెక్టుగా చెప్పొచ్చుగా? ఇంకా ఎక్కువ ఓట్లు వేస్తారేమో ?
CBN showed only Graphics in AP for 5 years. TDP followers still living in this Graphics world and not coming to regality. TDP will keep on loosing in elections until they come out of this Graphics world.
మణి మాల .. అబద్ధాల గోల ..
420 andhra people have no right to ask for debt… the take 2000 and vote again
Petrol 200 rs cheste sari.
Today’s culture is living relationships and multiple relationships with today youth is attracting… hence they like 420 and his decision.
better leave AP state and relocate to some other neighboring state