Chandrababu Naidu pushing A.P. into a debt trap by borrowing loans at higher interest rates, says Chinta Mohan
The Hindu
Chinta Mohan accuses N. Chandrababu Naidu of pushing Andhra Pradesh into debt trap, promises Congress will lead efficiently.
Former Union Minister and senior Congress leader Chinta Mohan on Thursday alleged that Chief Minister N. Chandrababu Naidu was pushing Andhra Pradesh into a debt trap by borrowing ₹60,000 crore from different agencies, including the World Bank at higher interest rates. He said that the latest borrowing of ₹11,000 crore from HUDCO at 8% interest per annum would be detrimental to the interests of the State.
Addressing a media conference here, he alleged that Mr. Naidu had failed to get grants from the Centre as per the assurances given under the AP Reorganisation Act but evinced enthusiasm in getting loans for the development of Amaravati. Mr. Mohan said that only the Congress Party, if voted to power, would put the State on the right track as it had enough experience in efficient administration.
Mr. Mohan said that a leader from OBC category would become the Chief Minister when the Congress returned to power in A.P. Influential persons belonging to dominant communities were suppressing the political career of leaders of SC, ST and OBC categories in the State, he alleged.
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