Revanth peddling false propaganda on investments, says BRS MLA Vivekananda

Quthbullapur MLA says Telangana Chief Minister's claims of attracting Rs 40,232 crore investments during his foreign trips over the last year raise doubts 

Hyderabad: Quthbullapur MLA K P Vivekananda raised doubts over Chief Minister A Revanth Reddy’s claims of attracting Rs 40,232 crore investments during his international trips over the last year, pointing out that no substantial gains were witnessed to date. He stated that the Congress government was peddling false propaganda about investments, which were only Rs 862 crore.

Speaking to media persons at Telangana Bhavan on Sunday, Vivekananda said the Chief Minister was visiting foreign countries only to take credit for the investments brought under the previous BRS government. Of the Rs 40,232 crore, around Rs 12,400 crore were proposed by the Adani Group, which was now doubtful. Similarly, another Rs 8,000 crore investment was promised by Godi India, a shell company valued at just Rs 160 crore.

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An 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, i.e. a total of Rs 14,500 crore investments were all result of the Memoranda of Understanding (MoUs) signed under the leadership of the then Industries and IT Minister KT Rama Rao.

Another Rs 4,470 crore including investments by Godrej, Tata Group, and Aragen Life Sciences, were also part of the projects which were in the pipeline since the BRS regime.

“While around Rs 20,400 crore investments are doubtful, about Rs 14,500 crore investments were signed during the BRS regime. The Congress government has brought only Rs 862 crore. Its claims of Rs 40,232 crore in investments lack credibility,” he said.

Vivekananda said 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 and demanded greater accountability and transparency regarding investments and policies of the Congress government.