Amaravathi, Nov 1: The former Finance minister and Telugu Desam Party (TDP) politburo member, Mr Yanamala Ramakrishnudu, on Tuesday said that the industrial sector, which is crucial for the development of the State, has been touching the rock bottom level in Andhra Pradesh for the past three-and-half years.
In an open letter to the Chief Minister, Mr Jagan Mohan Reddy, the former Finance minister said that the State is caught in a deep financial crisis with reverse growth, large-scale unemployment and no investments. When the industrial and service sectors witnessed tremendous growth during the TDP regime, they are now moving in reverse trend, he said.
With the destructive and negative policies being adopted by the State Government, there are absolutely o new investments in the State following which there is no employment generation. On the other hand, the industries that are likely to be set up in Andhra Pradesh are moving out of the State due to the failure of the law and order and the increasing trend on the demand for commissions.
At least investments worth over Rs 17 lakh cr moved out of Andhra Pradesh to the neighboring States, including the Kia affiliated units to Chennai and Hyderabad, Mr Yanamala Ramakrishnudu pointed out in the open letter to the Chief Minister. Industrialists like Luloo, Franklin Templeton and others cancelled their agreements with the State Government while the Asian Pulp Paper Industry, which is likely to set up its unit in Prakasam district, withdrew investments, the TDP politburo member stated.
Asking what is the fate of the CBIC Corridor, Mr Ramakrishnudu said that the future of the YSR Jagananna Mega Industrial Hub is also in dilemma. These are only some examples wherein the investors have gone back and the State Government has taken back the lands allocated to these industrialists. The result of this is there is no employment generation and also the youth lost their job opportunities, he said.
The Chief Minister should rethink on who will come forward to invest in a State where there is no even press freedom, Mr Yanamala Ramakrishnudu said and added that even the vacancies in government jobs too are not being filled. The former minister expressed serious concern that the highly educated youth is resorting to suicides due to lack of employent opportunities while the others are getting addicted to ganja and liquor.
Though a special team represented the State at the Davos conference there are no investments attracted from any industry, Mr Ramakrishnudu said adding that there is no encouragement for the investors from the Backward Classes (BCs), Scheduled Castes (SCs) and Scheduled Tribes (STs). “When the TDP was in power, we tried our best to identify the economic growth engines and focussed on them following which the GSDP has gone up. But now it is moving in the reverse direction,” the former Finance minister said.
The average growth index was in double digit when Mr Chandrababu Naidu was the chief minister but in the past three-and-half years it confined to single digit, he pointed out. The State has fallen to the 13th position in attracting foreign investments, Mr Yanamala Ramakrishnudu said adding that this clearly shows the commitment of the ruling party towards the overall growth of the State.
Mr Chandrababu Naidu was the chief minister he always tried his best to unveil industrial Andhra Pradesh and thus the investors showed interest to set up their units in State be it automibile or manufaturing or any other sector, he observed. But Mr Jagan Mohan Reddy, son after coming to power cancelled the PPAs and chased away the contractors in the name of reverse tendering.
The situation is so bad now that the people of the State can not even say which is their capital, Mr Ramakrishnudu said and asked who will come forwrard to invest in such a State. He advised Mr Jagan to examine all these issues and take some corrective measures to help the State move forward.
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