Without burdening the state exchequer even by a single rupee, former Chief Minister YS Jagan brought Infosys to Visakhapatnam. Now the same IT campus operations are being run there. The Chandrababu government, which should have protected public assets, is handing over the most expensive lands in Vizag to private companies through government orders at throwaway prices.
On one hand, the Telangana government is earning heavy revenue through auction of lands to companies. But in Andhra Pradesh, the Chandrababu government is allotting lands worth crores for just 99 paise, causing losses to the treasury.
First Time Infosys Came to a Tier-2 City — Credit Goes to YS Jagan
For the first time, Infosys was brought to a Tier-2 city and that honour belongs to former CM YS Jagan Mohan Reddy. At Madhurawada IT Hall-2, a Development Centre with 1,000 seats was set up as Infosys’s own private building. In the future, Infosys promised to support expansion. However, the Chandrababu government three months later claimed ₹8,500 crore profits were made from Infosys and is now allotting land worth crores to 99 companies for paise.
Along with Land Allotment, Money for Building Construction Too!
The Chandrababu government has so far allotted thousands of acres of IT land in Visakhapatnam to many real estate companies at just 99 paise. Companies like TCS, Cognizant, Infosys and similar firms were allotted lands but at the same time, real estate companies belonging to CM’s close associates are being given prime lands for cheap construction.
IT Campuses, Global Capability Centres under the guise of these, companies belonging to the CM’s inner circle are being allotted prime lands at car-cheap prices. Analysts are pointing this out. On top of that, 50% of the allotted land is being permitted to be used for commercial purposes. Companies are getting 60 to 70% incentives on their investments. Along with this, ₹2,000 per square foot state government subsidy is being given for building construction.
Analysts are questioning how the state government is spending so much. In Telangana and several other states, governments are selling lands to companies at market prices through public auctions. But in Andhra Pradesh alone, thousands of acres are being allotted to companies at just 99 paise analysts are expressing shock at this.
