Home » Lokesh slams Jagan over falling FDI in AP

Lokesh slams Jagan over falling FDI in AP

State’s place fallen from 5th to 13th by June, 2021
AP competed with Maharashtra under Naidu
It has fallen among lesser performing States
AMARAVATI: TDP National General Secretary and MLC Nara Lokesh on Friday blamed the Jaganmohan Reddy Government’s anti-industry policies for Andhra Pradesh falling to the 13th place in the country in FDI inflows by June this year contrary to its top 5th place during the previous regime two and half years ago.
Mr. Lokesh said AP could get just Rs. 2,577 Cr investment during October, 2019 to June, 2021 with its position slipping to 13th place while other States improved their performance. During 2018-`19 (Apl-Dec), AP stood in fourth place by attracting Rs. 19,671 Cr. The AP State competed with Maharashtra and Tamil Nadu during the Chandrababu rule while it had now fallen among the lesser performing States.
In a statement here, Mr. Nara Lokesh listed out that Tamil Nadu got an FDI of Rs. 30,078 Cr, Karnataka Rs. 1.49 Lakh Cr and Telangana Rs. 17,709 Cr during October 2019 to June 2021. During this period, AP got Rs. 2,577 Cr followed by Madhya Pradesh with Rs. 2,233 Cr and Kerala Rs. 2,154 Cr. Bihar got Rs. 395 Cr and Pondicherry Rs. 430 Cr. AP was steadily losing its credibility and investments due to the unconstitutional and lawless policies of the Jagan Reddy regime.
Mr. Lokesh deplored that while all neigbour States were reaching higher positions in terms of industrial growth, Andhra Pradesh was touching the lowest points in development and job creation. These FDI figures were as per the statements released by the Central Government. From this at least, the Chief Minister and his Industries Minister should realise that their respective face values would not bring investments. Only peace, stability and positive policies would ensure FDI inflows.
Mr. Nara Lokesh said that AP stood in 6th place in FDI inflows during 2017-`18 with Rs. 8,037 Cr. By 2018-`19 (Apr-Dec), Andhra Pradesh came to stand in fourth place by attracting Rs. 19,671 Cr FDI. It rose to compete with Karnataka which got Rs. 33,014 Cr. However, the AP situation turned upside down in just two and half years. If the YSRCP Government would not change its mindset for the better, AP would receive further setbacks.
Meanwhile, the TDP leaders accused the Chief Minister of starting another betrayal game in the name of incentives to the industries and companies. But the fact was that more money was being squeezed from the industrialists in the form of hiked power charges. There were nearly Rs. 1,600 Cr dues to the MSMEs but the Government gave just Rs. 440 Cr. Because of the YCP regime’s negligence, the industrial growth rate had fallen to -3.26 percent.
The Telugu Desam leaders said that the Government was not being able to give full industrial incentives just because most of the public funds were being looted by the ruling YSRCP leaders. The Chief Minister should stop betraying the small and medium industrialists. The Chandrababu regime gave Rs. 3,675 Cr of industrial incentives during June 2014 to March 2019. The Jagan regime was taking more from the industrialists than what it was giving to them in the form of incentives.

Leave a Reply