It is raining bad news for Andhra Pradesh. Not even a week after World Bank dropping the loan for Amaravati, another Bank, Asian Infrastructure Development Bank has also dropped its 200 Million Dollars Loan. In around one week, Andhra Pradesh Government has lost around 350 Million Dollars funding.
The bad news is far from over. The Export-Import Bank of Korea (KEXIM) has conveyed their inability to extend the financial assistance to the tune of 8300 Crore for the proposed Metro Rail project in Vishakapatnam. The center was supposed to fund this project along with Vijayawada Metro according to the Andhra Pradesh Reorganization Act.
The Modi Government put it in the backburner in the name of policy changes. The Opposition TDP Party accuses that this situation indicates the lack of confidence of the investors on Jagan’s Government while the Ruling party claims scams in the previous Regime. As of now, there is no evidence to substantiate such claims.
However Jagan’s Government is not much worried about these developments since Amaravati is not at all in the priority list for now. And also the focus is on implementation of the Welfare Schemes than taking up any infrastructure projects like Metro. On the other side, people will only hope there is an end to these bad news.Don't MissNo Hits, No Promotions – But Bigger Business And MarketIf one were to list the hits of the following actors, Suriya, Karthi and Vijay,...Don't MissSuccess Meet Transformed into Attack on CriticsThough it was the success meet of Ohmkar's 'Raju Gari Gadhi 3', the hero and...Don't MissPic Talk: Ileana Imagining in Cheesy Music VideoIf you think Ileana has added some extra weight to her figure in her last...Don't MissWhy is Jagan So Eager to Meet Amit Shah?Andhra Pradesh Chief Minister YS Jagan Mohan Reddy flew to Delhi earlier this month and...Don't MissTime To Shun Casual Attitude For Indian Rebel Star!In a few days, it will be the birthday of Indian Rebel Star Prabhas. This...