Finding fault with the interest rates for the bonds issued to raise money for the construction of Amaravati, YSRCP president Jagan Mohan Reddy on Monday said ₹2,000 crore would be paid towards interest on a principal of ₹2,000 crore at the rate of 10.32 % in the next 10 years.
Addressing a public meeting at Kota Uratla as part of his Praja Chaitanya Yatra, he said the GHMC in the neighbouring Telangana was paying 8.9 % and Pune 7.5%.
The commission towards bonds paid was ₹17 crore whereas Telangana paid ₹1 crore on ₹1,000 crore, he alleged.
Under Section 94 (3) of the Bifurcation Act, the capital city should be constructed by the Union government but the Chief Minister was taking the job upon himself and indulging in corruption, he said.
‘Wasteful expediture’
Mr. Jagan said Mr. Naidu in his four-year rule indulged in wasteful expenditure of ₹6,000 crore, including ₹4 crore each on his dharma porata deekshas in the 13 districts.
Among the other expenses he mentioned were: ₹300 crore for consultancies, ₹1,100 per sft for temporary Assembly and the Secretariat, hotel bills for him and family members in Hyderabad ₹30 crore, for foreign tours in private flights ₹120 crore and ₹3,000 crore for the Krishna and the Godavari pushkaram works.
