Andhra Pradesh is going to organise its
investors’ summit from March 3, after four years. The
chief minister, YS Jagan Mohan Reddy, spoke exclusively to ET on the edge Andhra has compared to other states for businessmen. Regarding freebie politics, he says he would prefer to call it “a future investment” in the people. Regarding his ties with the BJP, he says while he enjoys a good relation with the prime minister, his state’s interest is of prime importance to him.
Excerpts: On the upcoming investors’ summitThe summit is like an outreach programme — we want to show that we mean business. For the first time, top industrialists are coming to attend the summit and are investing in the state. This trust comes from the leadership and our government’s assurance that we are here to support them in wealth and job creation. Every state organises investor summits, and they all make the same kind of offers to businessmen. AP’s edge is that we have 974 km of coastal landscape, six seaports and four more are under construction, adequate land bank, mineral resources, and uninterrupted power supply. For the last three years, we have been ranked number one in the ease of doing business surveys. Investments could come in the cement sector because of the availability of limestone in the state.
On the state’s increasing debt and fiscal management
When we came to power, we inherited a debt of Rs 2,71,000 crore with a 139% increase in debt since 2014 at a CAGR of 19.05%. In the last four years, we have taken lesser debt as the debt has grown only 68% at a CAGR of 13.5%. At present, it is at Rs 4.42 lakh crore. We are a fiscally prudent state and whatever debt we have taken is under the recommended FRBM limit.On spending more than 50% of the budget on cash schemes and freebies
You call it freebies, but I call it future investment. Massive infrastructural changes are taking place in schools and colleges with a new CBSE-based English-medium curriculum right from the primary school level. We incentivise mothers by giving them ‘15,000 annually for sending their children to school. We provide cash incentives at right intervals during a child’s journey so that he/ she can continue studying, creating a talent pool, not only for AP, but for the entire world. Similarly, we take care of the healthcare expenditure of households, we provide support to farmers — from providing seeds to helping them sell their produce. Everything is done through direct benefit transfer (DBT), so there is no corruption and these schemes are linked with the sustainable development goals (SDGs). Ours is an investment in human resources. If all this is freebie, then from where are we registering a growth of 11.43%.
On scrapping the earlier Amaravati capital city project
As the state moves forward, there will be corrections and fresh starts. My priority is to revamp the education, healthcare and agriculture infrastructure. On siding with the BJP
We need to support the central government on certain issues. At times, we oppose some of them also. It’s not about taking sides, it is more about what is good in the interest of the state, and we are guided by that. But yes, I do share a good working relationship with PM Modi Ji.
On the feasibility of getting special status for Andhra Pradesh
It is not an economic decision but a political decision, whose time will come someday. By raising it regularly, we need to keep it alive.
On lijkely BJP-TDP alliance
Any relationship between two parties is about trust and credibility. Why speculate at this point. Let’s wait for things to unfold.
On Rahul Gandhi’s Bharat Jodo Yatra
He has undertaken the yatra to enhance his party’s prospects and everyone is entitled to do what they feel is best for them. I also undertook the Praja Sankalp Yatra to reach out to the people and enhance the prospect of our party.
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