Chandrababu Naidu: Rs 1,940 Cr mortgaged, Rs 40,000 Cr land grabbed in Vizag under previous administration

On 26 July 2024, Chief Minister Nara Chandrababu Naidu addressed the Andhra Pradesh Assembly session and said that Rs 1,940 crore worth of property was mortgaged, and around Rs 40,000 crore worth of land was grabbed under the previous YSRCP administration in Visakhapatnam.

In Visakhapatnam, the total property mortgaged during this period included:

• Government Polytechnic College: 24 acres for Rs 359 crore
• Dairy Farm: 30 acres for Rs 309 crore
• Government ITI College: 17 acres for Rs 270 crore
• Police Quarters: 9 acres for Rs 215 crore
• Rythu Bazaar, MVP Colony: 4 acres for Rs 90 crore
• Tashildar Office: 1 acre for Rs 34 crore
• R & B Quarters: 3 acres for Rs 99 crore
• Circuit House: 3 acres for Rs 81 crore
• EE Bungalow: 10 acres for Rs 203 crore
• Disabled Welfare Training Centre: 19 acres for Rs 157 crore
• PWD Office: 4 acres for Rs 79 crore
• Sericulture: 6 acres for Rs 47 crore

Chandrababu Naidu also mentioned that the Rs 1,453 crore received from the Central government until March 2024, and the Rs 1,689 crore that was accumulated in PD accounts of local bodies in the last five years, were not allocated to the local bodies. Rather, they were diverted for their personal gains.

Employee savings such as pensions and PF funds of APGENCO/APTRANSCO/DISCOMS around Rs 3,143 crore were invested in APSBCL bonds for ten years, resulting in the loss of Rs 25.40 crore per annum due to the differential interest rates.

Talking about Abhaya Hastham, the Chief Minister said “Rupee by rupee, women of Dwarka accumulated almost Rs 2100 crore in their accounts which helped them to get Rs 500 pension every month, but now women are not receiving that amount as those funds were also stolen and diverted.”

According to the reports that were presented at the Assembly, by 31 March 2019, the depth of Andhra Pradesh was Rs 3,75,295 crore, and its estimation reached Rs 9,74,556 crore by June 2024.

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