Financial Daily from THE HINDU group of publications Thursday, Feb 05, 2004 |
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Industry & Economy
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Economy `People's Report' flays AP Govt Our Bureau
Hyderabad , Feb. 4 THE Forum to Save Andhra Pradesh from World Bank, has released the first in the series of "People's Progress Reports", criticising the State Government for what it termed as `failure on all fronts.' The forum, formed by Dr P.V.R. Bhaskara Rao, a cardio-thoracic specialist, and Prof. K R Chowdhary and an economic columnist Mr V. Hanumantha Rao, alleged that the total loans taken by the Government would go up to Rs 72,000 crore in the next two years. "The Government has reportedly taken loans to the tune of Rs 12,000 crore from the World Bank alone, even as the total loan burden has gone up to Rs 57,000 crore," the 12-page report said. Criticising the Chief Minister, Mr N. Chandrababu Naidu, for making hollow promises on attracting investments into the State, the report said the Government had miserably failed in this aspect. "During 1970s and 1980s, the State used to be a front-runner as far as industrialisation is concerned. But the then Telugu Desam Government had neglected the power sector, a key component in the industrial infrastructure. This has resulted in decline in the segment," the report said. "The Government has set up a separate department to close down several public sector units. Thousands of small-scale units are being shut down," Mr Hanumantha Rao said. Accusing the World Bank for its "designs" to shift the focus of Indian agriculture to commercial crops, the report felt that the bank's plan also included taking control of public sector undertakings once the Government disinvested its stake. Touching upon other aspects, the report said the State fared badly on providing drinking water, public distribution system and unemployment. "Keeping aside who are below the age of 15 and above 60 years, one in every 13 people in the State are unemployed," the report said.
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