Financial crunch..Amaravati protests…high drama over bills..scrapping legislative council…rounding it off, Andhra Pradesh has been at doldrums from the past few months. While the Chief Minister himself is busy with his legal team over various CBI cases and with strategies to curb the oppositions, situations in the state started slipping out of hands, said a political analyst. With the government’s stubborn decision of shifting the administration from Amaravati to Visakhapatnam, least did the Jagan and his team foresee the plummeting numbers in various sectors across the state compared to the neighbouring Telugu state.
Many of the business analysts agreed to the fact that the chaos in AP has been giving nightmares to firms over the return on their investment while a section of investors who were once ready to invest backed off. Into the story, it was three years back that World Bank which assessed the financial situations and development strategies in Amaravati has announced to fund the capital. Even central government announced that it would release about seven thousand crores for the development of capital. However, sources revealed that Jagan’s adamant attitude and inept response resulted in World Bank and Central government backing off from the investments.
Meanwhile, the unfortunate situations in AP have become a boon to Telangana which stood as the immediate options for the investor who tend to expand their wings in South. IT and Industries Minister KT Rama Rao is now striking gold. Apart from retail players such as Ikea and Danube Home, Telangana has been attracting major investments in the retail and apparel manufacturing space. In a recent revelation, KTR who is in Davos attending World Economic confirmed that Forum Piramal Group would invest Rs 500 crore in the State in the next three years for expanding its pharma business. Pragati Bhavan sources also confronted that Telangana government is pitching in the investor who has in second thoughts to invest in Andhra Pradesh.
Rounding this off, all the efforts of former Chief Minister Chandrababu Naidu to build a global city Amaravati with various investments, failed in the hands of the new government. While most of the projects are either half-finished or nearing completion, real-estate and infrastructure firms who promised to invest like Singapore consortium ended up ties with Andhra Pradesh government. Are the decisions of Jagan discursively helping Telangana and KCR? Yes, is the answer from many of the political and business analysts.