Rajamahendravaram: CPI State Assistant Secretary Muppalla Nageswara Rao demanded that Andhra Pradesh receive its rightful share of the natural wealth being extracted from the Krishna-Godavari (KG) Basin, particularly in the form of gas and oil. He announced that the CPI will organise a state-level conference in Rajahmundry in July to raise awareness and mobilise public support for this cause.

Addressing the media at the CPI office here on Sunday, Nageswara Rao alleged that corporate companies are looting natural resources worth lakhs of crores of rupees from Andhra Pradesh. He urged the people of the state to rise in protest against what he described as systematic exploitation.

“The KG Basin contains more oil reserves than Bombay High. Resources worth around Rs 60 lakh crore are being siphoned off by corporate entities,” Rao stated. He said that, as per the Indian Constitution, 30% of the revenue generated from the extraction of natural resources must be reinvested in the development of the region they are sourced from. However, he claimed this directive is not being implemented in Andhra Pradesh. Given the state’s dire financial condition, he urged the government to support the CPI’s agitation for a fair share in resource revenue. He also expressed disappointment over the silence of Chief Minister Chandrababu Naidu and Deputy Chief Minister Pawan Kalyan regarding the ongoing protests by workers seeking to protect the Visakhapatnam Steel Plant. CPI District Secretary Tatipaka Madhu, Assistant Secretary Kundravu Rambabu, and City Secretary V Kondala Rao were present.