Lokesh slams Jagan over falling FDI in Andhra Pradesh

Mangalagiri: TDP national general secretary and MLC Nara Lokesh on Friday blamed the Jagan Mohan Reddy government's anti-industry policies for Andhra Pradesh falling to the 13th place in the country in FDI inflows by June this year contrary to its top 5th place during the previous regime's two-and-half years ago.

He pointed out AP could get just Rs 2,577 crore investment during October, 2019 to June, 2021 with its position slipping to 13th place while other States improved their performance. During 2018-19 (April-Dec), AP stood in fourth place by attracting Rs 19,671 crore.

In a statement here, Lokesh listed out that Tamil Nadu got an FDI of Rs 30,078 crore, Karnataka Rs 1.49 lakh crore and Telangana Rs 17,709 crore during October 2019 to June 2021. During this period, AP got Rs 2,577 crore followed by Madhya Pradesh with Rs 2,233 crore and Kerala Rs 2,154 crore. Bihar got Rs 395 crore and Puducherry Rs 430 crore.

These FDI figures were released by the Central government. From this at least, the Chief Minister and his Industries Minister should realise that their respective face values would not bring investments. Lokesh said that AP stood in 6th place in FDI inflows during 2017-18 with Rs 8,037 crore. By 2018-19 (Apr-Dec), Andhra Pradesh came to stand in fourth place by attracting Rs 19,671 crore FDI. It rose to compete with Karnataka which got Rs 33,014 crore. However, the AP situation turned upside down in just two-and-half years. If the YSRCP government would not change its mindset for the better, AP would receive further setbacks.

Meanwhile, the TDP leaders accused the Chief Minister of starting another betrayal game in the name of incentives to the industries and companies. But the fact was that more money was being squeezed from the industrialists in the form of hiked power charges. There were nearly Rs 1,600 crore dues to the MSMEs but the government gave just Rs 440 crore.