Kavitha accuses Telangana govt of issuing order to facilitate land mortgage

While Telangana Chief Minister Revanth Reddy claimed today that the state has attracted nearly Rs 3 lakh crore in investments and that over one lakh private sector jobs have been created since he took charge of the CM office, BRS MLC Kalvakuntla Kavitha has alleged that the Congress government is planning to mortgage 1.75 lakh acres of industrial land across the state through the Telangana Industrial Infrastructure Corporation (TGIIC) to raise loans.

- STATESMAN NEWS SERVICE

She accused the government of issuing an order to change the corporation's status from private to public to facilitate the land mortgages.

Kavitha stated that after mortgaging the Kancha Gachibowli land for approximately Rs 10,000 crore, the Congress government is now eyeing the 1.75 lakh acres of land available with TGIIC. Accordingly, it issued GO no. 12 on 15 April, permitting the change in TGIIC's status from a private limited company to a public limited entity. This would enable larger borrowings from capital markets through bonds, debentures, or even an IPO.