BRS MLA terms Revanth's investment claims as fake

Hyderabad: BRS leader KP Vivekanand on Sunday alleged that the Rs 40,000 crore investment claims made by the Chief Minister A Revanth Reddy last year were all fake investments.

Addressing a press conference, Vivekanand said that it was not Rs 40,000 crore but only Rs 862 crore. He alleged that the Congress government was taking credit for the investments received during the BRS government. Of the total Rs 40,232 crore claimed by the government, Rs 12,400 crore were proposed by the Adani Group, which was now scrapped. The company promoted by Godi India, which was supposed to invest Rs 8,000 crore, had invested just Rs 160 crore. He referred to the company as a shell company.

The BRS leader claimed that it was the party’s leader and former IT Minister KT Rama Rao secured investments of about Rs 14,500 crore including investment of Rs 9,000 crore by JSW (Jindal Steel Works), Rs 5,200 crore by Web Works, and around Rs 300 crore of 1,270 crore. All these investments were the result of the MoUs signed during the previous government but the Congress government was claiming to be theirs, he alleged.

Vivekanand claimed the Chief Minister’s decisions to cancel projects like Pharma City, Airport Metro, and Formula-E races were causing significant financial losses to the State. The BRS leader demanded greater accountability and transparency regarding investments and policies of the Congress government.