Industrial development in AP touched rock bottom during YSRC govt: Yanamala

VIJAYAWADA: The industrial growth in the State has touched the rock bottom in the last three-and-a-half years, said TDP Politburo member and former minister Yanamala Ramakrishnudu. In an open letter to Chief Minister YS Jagan Mohan Reddy on Tuesday, Yanamala expressed concern over the deep financial crisis with reverse growth and large scale unemployment in the State.

He alleged that there were absolutely no new investments in the State due to the destructive and negative policies being adopted by the Jagan Mohan Reddy government. 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 rise in demand for commissions. “At least investments worth over `17 lakh crore have been moved out of Andhra Pradesh,” Yanamala pointed out.

Seeking to know what is the fate of the Chennai Bengaluru Industrial Corridor project, Yanamala opined that the future of the YSR Jagananna Mega Industrial Hub is also in a state of uncertainty.The average growth index was in double digit when Chandrababu Naidu was the chief minister, but in the past three-and-a-half years it has been confined to a single digit. AP has fallen to the 13th position in attracting foreign investments, Yanamala mentioned, adding that this clearly shows the lack commitment on the part of the ruling YSRC to the overall growth of the State.

“The situation is so bad now that the people of the State cannot even say which is their capital,” he said and asked who will come forward to invest in such a State. He advised Jagan to study all these issues and take some corrective measures to make the State achieve growth.