• Latest
  • Most Read
In order to settle political scores, Reddy is closing businesses and destroying India’s reputation

In order to settle political scores, Reddy is closing businesses and destroying India’s reputation

4 years ago
Randeep Hooda, Lin Laishram, Bollywood, Destination Wedding, Manipuri

Beyond the Flash: Randeep Hooda’s Unique Manipuri Wedding

2 days ago
Crisis to Victory – The Story of Silkyara Tunnel’s Epic Rescue Mission!

Crisis to Victory – The Story of Silkyara Tunnel’s Epic Rescue Mission!

3 days ago
Navigating the World of Australian Online Casinos

Navigating the World of Australian Online Casinos

3 days ago
Let’s Hug Day Quotes

40 Quotes for Let’s Hug Day: Embracing Wisdom

4 days ago
Computer Literacy Day Quotes

40 Quotes for World Computer Literacy Day: Empowering Minds

4 days ago
Modi Michael Douglas

“He is the Best”, Michael Douglas on PM Modi

4 days ago
Ashneer Grover Court

Delhi High Court imposes HUGE fine on Ashneer Grover

4 days ago
The Sophisticated Scams that can empty your account in less than 5 minutes

The Sophisticated Scams that can empty your account in less than 5 minutes

5 days ago
National Personal Space Day Quotes

Quotes for National Personal Space Day: Celebrate Your Bubble

5 days ago
National Personal Space Day Quotes

40 Quotes for World Pollution Prevention Day: For Cleaner Tomorrow

6 days ago
chadwik boseman quotes and captions

51 Quotes for Chadwick Boseman Day: Wisdom in Words

6 days ago
Choose Women Wednesday

Choose Women Wednesday: EmpowerHer Quotes

6 days ago
Ranbir Kapoor, Bobby Deol, Anil Kapoor, Animal

Cinematic Marvel Unleashed: ‘Animal’ Trailer Analysis – Ranbir Kapoor, Bobby Deol, and Sandeep Reddy Vanga’s Vision

1 week ago
red planet day poster

Inspiring Words and Quotes for Red Planet Day

1 week ago
Giving Tuesday Quotes

40 Quotes on Giving Tuesday: Heartfelt Wisdom

1 week ago
  • About us
  • Careers
  • Brand Partnerships
TFI Official Merchandise
TFI हिन्दी
TFI Global
Saturday, December 2, 2023
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Randeep Hooda, Lin Laishram, Bollywood, Destination Wedding, Manipuri

    Beyond the Flash: Randeep Hooda’s Unique Manipuri Wedding

    Crisis to Victory – The Story of Silkyara Tunnel’s Epic Rescue Mission!

    Crisis to Victory – The Story of Silkyara Tunnel’s Epic Rescue Mission!

    Modi Michael Douglas

    “He is the Best”, Michael Douglas on PM Modi

    Ashneer Grover Court

    Delhi High Court imposes HUGE fine on Ashneer Grover

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    The Sophisticated Scams that can empty your account in less than 5 minutes

    The Sophisticated Scams that can empty your account in less than 5 minutes

    Subrata Roy, Sahara, SEBI, Business,

    The Controversial Journey of Subrata Roy: His Life in the Business World

    With this latest assault on the Company, BYJU’s is (almost) OVER

    With this latest assault on the Company, BYJU’s is (almost) OVER

    Speedy Solutions: How to Secure an Instant Personal Loan Online

    Speedy Solutions: How to Secure an Instant Personal Loan Online

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    new CBI director Praveen sood biography

    Who is Praveen Sood the New CBI Director: Professional Background, Achievements and Significance of the Appointment

    Paramjit Singh Panjwar shot dead

    Paramjit Singh Panjwar shot dead: Keep calm and trust the Indian Armed Forces

    Swarm satellites

    India’s Bold Step towards Satellite Swarm Intelligence: A New Era in Space Technology

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Ambassador Naor Gilon takes issue with ‘The Hindu’ for Hamas interview

    Ambassador Naor Gilon takes issue with ‘The Hindu’ for Hamas interview

    America thought that none could dare make a deal with Venezuela. But Bharat had other plans

    America thought that none could dare make a deal with Venezuela. But Bharat had other plans

    So finally, the main cause behind Delhi Pollution is out and it’s nothing you imagined

    Bharat Calls for Condemnation of Hamas Attack, Opts to Abstain at UN Vote

    Israel Halts UN Visa Issuance Amid Guterres Controversy

    Israel Halts UN Visa Issuance Amid Guterres Controversy

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    Bubble Chart

    The Ultimate Guide To Making a Bubble Chart

    8 Things To Know Before Building A Greenhouse

    8 Things To Know Before Building A Greenhouse

    8 Ways To Prepare For The NCLEX-RN Exam

    8 Ways To Prepare For The NCLEX-RN Exam

    The Best Online Writing Service to Train and Boost Essay Writing Skills For College and Career Success

    The Best Online Writing Service to Train and Boost Essay Writing Skills For College and Career Success

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    Navigating the World of Australian Online Casinos

    Navigating the World of Australian Online Casinos

    Ranbir Kapoor, Bobby Deol, Anil Kapoor, Animal

    Cinematic Marvel Unleashed: ‘Animal’ Trailer Analysis – Ranbir Kapoor, Bobby Deol, and Sandeep Reddy Vanga’s Vision

    The Evolution of Online Trading Platforms: A Historical Perspective

    The Evolution of Online Trading Platforms: A Historical Perspective

    Rahul Gandhi Panauti Narendra Modi

    RaGa’s Panauti Punch: We Dug Deeper and Here’s What We Found

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Randeep Hooda, Lin Laishram, Bollywood, Destination Wedding, Manipuri

    Beyond the Flash: Randeep Hooda’s Unique Manipuri Wedding

    Crisis to Victory – The Story of Silkyara Tunnel’s Epic Rescue Mission!

    Crisis to Victory – The Story of Silkyara Tunnel’s Epic Rescue Mission!

    Modi Michael Douglas

    “He is the Best”, Michael Douglas on PM Modi

    Ashneer Grover Court

    Delhi High Court imposes HUGE fine on Ashneer Grover

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    The Sophisticated Scams that can empty your account in less than 5 minutes

    The Sophisticated Scams that can empty your account in less than 5 minutes

    Subrata Roy, Sahara, SEBI, Business,

    The Controversial Journey of Subrata Roy: His Life in the Business World

    With this latest assault on the Company, BYJU’s is (almost) OVER

    With this latest assault on the Company, BYJU’s is (almost) OVER

    Speedy Solutions: How to Secure an Instant Personal Loan Online

    Speedy Solutions: How to Secure an Instant Personal Loan Online

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    new CBI director Praveen sood biography

    Who is Praveen Sood the New CBI Director: Professional Background, Achievements and Significance of the Appointment

    Paramjit Singh Panjwar shot dead

    Paramjit Singh Panjwar shot dead: Keep calm and trust the Indian Armed Forces

    Swarm satellites

    India’s Bold Step towards Satellite Swarm Intelligence: A New Era in Space Technology

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Ambassador Naor Gilon takes issue with ‘The Hindu’ for Hamas interview

    Ambassador Naor Gilon takes issue with ‘The Hindu’ for Hamas interview

    America thought that none could dare make a deal with Venezuela. But Bharat had other plans

    America thought that none could dare make a deal with Venezuela. But Bharat had other plans

    So finally, the main cause behind Delhi Pollution is out and it’s nothing you imagined

    Bharat Calls for Condemnation of Hamas Attack, Opts to Abstain at UN Vote

    Israel Halts UN Visa Issuance Amid Guterres Controversy

    Israel Halts UN Visa Issuance Amid Guterres Controversy

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    Bubble Chart

    The Ultimate Guide To Making a Bubble Chart

    8 Things To Know Before Building A Greenhouse

    8 Things To Know Before Building A Greenhouse

    8 Ways To Prepare For The NCLEX-RN Exam

    8 Ways To Prepare For The NCLEX-RN Exam

    The Best Online Writing Service to Train and Boost Essay Writing Skills For College and Career Success

    The Best Online Writing Service to Train and Boost Essay Writing Skills For College and Career Success

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    Navigating the World of Australian Online Casinos

    Navigating the World of Australian Online Casinos

    Ranbir Kapoor, Bobby Deol, Anil Kapoor, Animal

    Cinematic Marvel Unleashed: ‘Animal’ Trailer Analysis – Ranbir Kapoor, Bobby Deol, and Sandeep Reddy Vanga’s Vision

    The Evolution of Online Trading Platforms: A Historical Perspective

    The Evolution of Online Trading Platforms: A Historical Perspective

    Rahul Gandhi Panauti Narendra Modi

    RaGa’s Panauti Punch: We Dug Deeper and Here’s What We Found

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
No Result
View All Result

HOME » Politics » Opinions » In order to settle political scores, Reddy is closing businesses and destroying India’s reputation

In order to settle political scores, Reddy is closing businesses and destroying India’s reputation

Amit Agrahari
by Amit Agrahari
20 November 2019
in Opinions
0
In order to settle political scores, Reddy is closing businesses and destroying India’s reputation

(PC: Deccan Chronicle)

2.2k
VIEWS
Share on FacebookShare on X

It has been less than 6 months since Jaganmohan Reddy government came to power in Andhra Pradesh. The government has already taken many disastrous decisions, which will damage the macroeconomic stability of the state.

After coming to power, the government cancelled 7,000 MW of solar and wind power projects, scrapping 40,000 crore rupees worth investment in the state. The investors are apprehensive that this will set precedent for other states, and therefore they are considering International arbitration.

Many countries including Japan, UAE, Canada, the US and Singapore invested in the energy projects through their sovereign and pension funds. As the Reddy government has scrapped the projects, the capital wasted in finalization of investment is lost. The ambassadors of these countries wrote to Union Power Minister R K Singh, regarding the cancellation of the project. Many countries took the matter too Ministry of External Affairs too and have even threatened to drag Andhra Pradesh to international arbitration for cancelling clean energy projects.

After the Reddy government came to power, it ordered review of many projects sanctioned by Naidu government like development of Amravati as startup capital, which put the investment by Singapore government at risk, and review of renewable energy projects for which the government formed a high-level negotiation committee (HLNC). These projects were awarded to these companies by previous TDP government, led by Chandrababu Naidu.

The newly elected Andhra Pradesh government refused to buy power from the renewable energy projects, as agreed by the previous TDP government. The companies approached Andhra Pradesh High Court, which ruled in their favour and said, “The respondents (state government) are directed not to take any coercive step of any nature including curtailing production, stopping evacuation or the like except after giving due notice to the generators.”

But, even after the court’s decision, the AP government has not started the purchase; instead, it decided to file a review petition.

The UAE based Lulu Group was allotted land to build an international convention Centre in Vishakhapatnam. But, the Reddy government cancelled land allocation. Suffering the backlash due to regime change, the group decided to not invest in ‘any project’ in Andhra Pradesh.

“We had participated in a very transparent bidding process and were awarded the land on lease for this project. Though we have incurred huge expenses towards initial project development costs such as appointing internationally renowned consultants and designing the project by world-class architects, we agree to the decision of the new Government of Andhra Pradesh to revoke the land allotment for this project. Given the current scenario, we have decided not to invest in any new projects in the state of Andhra Pradesh,” said Ananth Ram, Lulu Group’s Director for India.

In another disastrous decision which will adversely impact the economy of the state, the government cancelled license of 40 percent of bars. Liquor sale contribute a major portion in the tax collection of states, with the reduction in number of bars, the sale of liquor will go down, and therefore tax collection will also decline.

Two months after the Reddy government came to power, World Bank and the AIIB withdrew their investment from Amaravati’s startup area project, which was a joint venture between Singapore Amaravati Investment Holdings (SAIH) and the Amaravati Development Corp. (ADC), a state government agency. A few weeks ago, the Reddy government finally scrapped the AP startup area project.

The Reddy government is scraping one project after another since it came to power. This costs in investment, macroeconomic stability, and the reputation of the state as investment destination. The inability of the state in ‘enforcement of contracts’ and lack of continuation in policies hampers its ability to attract investment for long term projects; because, the companies fear that they could lose the project with the change in the government.

So far, the state government has not been able to match the central government’s enthusiasm for the ease of doing business and enforcement of contracts. The state governments work in partisan manner and therefore are vindictive towards the projects finalized during the previous governments.

The states must understand that the onus for economic growth does not lie only on the central government, the state governments must participate actively to improve macroeconomic stability and ease of doing business. Only then, double digit economic growth is going to be a reality.

Tags: Jaganmohan Reddy
Share303TweetSend
Previous Post

Bold and Brilliant – Tanhaji, the first big budget Bollywood movie that doesn’t compromise on core ideals

Next Post

Dear JNU freeloaders, please learn from successful youth who did part-time jobs, tuition to support family

Amit Agrahari

Amit Agrahari

Engineering grad but Humanities and social sciences are my forte. Avid reader of religious Scriptures (Especially Hindu), Lord Shiva devotee

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

  • Most Read
  • Comments
  • Latest
Xi Jinping, coronavirus, Shinzo Abe, china, Japan, coornavirus, COVID-19, Wuhan Virus

‘Pack up and get out of there,’ Japan to spend $2.2 billion to get Japanese companies to exit China

9 April 2020
ajay devgn karan johar

The man who bullied the Bully – How Ajay Devgn made Karan Johar’s monopoly a joke and forced him to apologize

22 June 2020
Huawei, China, Trump, USA, Xi Jinping

‘Our survival is at stake now,’ Chinese Telecom giant Huawei crumbles after US ban on Semiconductor exports

19 May 2020
T-Series Sonu Nigam Divya Khosla Kumar Bhushan Kumar

T-Series forced to take down Atif Aslam’s video, Divya Khosla trolled. T-Series has a bad day in office

25 June 2020
Meat Ban

A Jain responds to Meat Ban in Mumbai

Public Sector Bank, Government, Bill

Dear bank employees, continue your stride but PSBs will be privatized

anti-Hindi

Anti-Hindi Forever?- In search of a National Language!

Dear Liberals – your Beef Parties are not protests, they just intend to displease the Majority

Dear Liberals – your Beef Parties are not protests, they just intend to displease the Majority

Randeep Hooda, Lin Laishram, Bollywood, Destination Wedding, Manipuri

Beyond the Flash: Randeep Hooda’s Unique Manipuri Wedding

30 November 2023
Crisis to Victory – The Story of Silkyara Tunnel’s Epic Rescue Mission!

Crisis to Victory – The Story of Silkyara Tunnel’s Epic Rescue Mission!

29 November 2023
Navigating the World of Australian Online Casinos

Navigating the World of Australian Online Casinos

29 November 2023
Let’s Hug Day Quotes

40 Quotes for Let’s Hug Day: Embracing Wisdom

28 November 2023

Popular This Week

Indian cricet team, Hindus, Hindutva, Azharuddin, Ganguly
Opinions

The striking similarity between Indian Cricket Team of the 90s and Hindus of Today

by Atul Kumar Mishra
28 February 2020
Ranbir Kapoor, Bobby Deol, Anil Kapoor, Animal
Cinema

Cinematic Marvel Unleashed: ‘Animal’ Trailer Analysis – Ranbir Kapoor, Bobby Deol, and Sandeep Reddy Vanga’s Vision

by Atul Kumar Mishra
24 November 2023
Biden Pannun India
Opinions

Decoding the US’s concern for Pannun

by Atul Kumar Mishra
23 November 2023
The Sophisticated Scams that can empty your account in less than 5 minutes
Finance

The Sophisticated Scams that can empty your account in less than 5 minutes

by Atul Kumar Mishra
27 November 2023
ASUS to relocate its primary manufacturing hub from China to India
Business

ASUS to relocate its primary manufacturing hub from China to India

by Pratyush Madhav
22 September 2023

©2023 TFI Media Private Limited

  • Terms of use
  • Privacy Policy
  • Sitemap
No Result
View All Result
  • Premium
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
TFI Official Merchandise
TFI हिन्दी
TFI Global
  • About us
  • Careers
  • Brand Partnerships

©2023 TFI Media Private Limited

Follow us on Twitter

and never miss an insightful take by the TFIPOST team

Follow @tfipost