Cong sounds alarm over reckless borrowing for Amaravati development

Kurnool : Chinta Mohan, former Union Minister and senior Congress leader, expressed grave concern over the reckless borrowing by Chief Minister N Chandrababu Naidu in the name of Amaravati’s development.

Addressing a press conference here on Saturday, he wondered, “Do we really need Rs 60,000 crore in loans for Amaravati? The CM has entered into an agreement with ADCO for Rs 11,000 crore at a steep 9 per cent interest rate, repayable over 15 years. As per the terms, both interest and a portion of the principal must be paid every three months. This will severely burden the people of Andhra Pradesh.”

Chinta Mohan warned that the fate of Amaravati might mirror that of Kurnool. “In 1953, when Andhra separated from Madras State, leaders like Acharya Ranga and Tarimela Nagi Reddy proposed Tirupati as the capital.

However, it was moved to Kurnool, and later to Hyderabad. The present CM Naidu moved it to Thullur, and his successor, YS Jagan Mohan Reddy introduced the concept of three capitals. Meanwhile, Chandrababu Naidu is amassing loans from World Bank, Germany, and ADCO under the guise of Amaravati’s development. Why burden the State with such debts instead of demanding grants from the Central government, as per the Andhra Pradesh Reorganization Act?”, he questioned.

Chinta Mohan criticised lack of development in Kurnool region. He alleged that former CM Kotla Vijaya Bhaskar Reddy, successive leaders including YS Rajasekhara Reddy and Chandrababu Naidu neglected this region. He urged Chandrababu Naidu to develop scenic spots like Somasila and Sangameswaram as tourist destinations. Rather than building a suspension bridge at Sangameswaram, a dam should be constructed to transform Rayalaseema region into a fertile land, he noted.

Criticising the escalating cost of Polavaram Project, Mohan termed it as ‘boon for contractors and politicians’. He alleged that it has become a revenue source for vested interests. He demanded that Rs 10,000 crore must be allocated to each Rayalaseema district for development.

Raising concerns over the potential privatization of the Visakhapatnam Steel Plant, Chinta Mohan said that corporates are eyeing the plant for real estate purposes, and some BJP leaders are acting as brokers. The Central government must pass a resolution to ensure that the steel plant is not privatized.