Blow for State BJP, Center Gives Thumbs Up For Amaravati Bonds

Bharatiya Janata Party has strongly opposed the issuance of Amaravati bonds for financing the ongoing developmental works in the capital city. GVL Narasimha Rao and other BJP leaders met Governor E S L Narasimhan and submitted him a memorandum calling for an inquiry into the alleged irregularities by the TDP Government.

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They alleged that the floating of “Amaravati bonds” to raise Rs 2,000 crore for the construction of new capital city smacks of massive corruption and questioned the rationale of borrowing at such a high-interest rate 10.7 percent to be paid on a quarterly basis when other sources of funding are available.

They said the loans are being taken only for obtaining kickbacks from the contractors involved in the work. But then, the Ministry of Housing and Urban Affairs congratulated CRDA for issuing municipal bonds worth 2000 Crore and in recognition, the Ministry awards them ₹26 crore as an incentive under AMRUT Scheme.

This is one more face losing incident for the State BJP Unit. While they are fighting against the TDP in Andhra Pradesh, the same government is being appreciated and incentivized by their own government at the center. Needless to say, they will disappear to comment on this.