K.T. Rama Rao, working president of Bharat Rasthra Samithi (BRS), has stated that Telangana Government led by A. Revanth Reddy is in a financial corner and will be forced to mortgage 400 acres of state land to private finance institutions. It is said these lands are valued at ₹20,000 crores by experts and therefore may fetch about ₹10,000 crores.
In 2016, K.T. Rama Rao claimed on X (formerly Twitter) that the government had appointed a merchant banker as an agent and was prepared to give him ₹100 crores commission. He further argued that this could hardly affect the development of Telangana severely for all times to hinder new investments and industries which would make the State youth unable to work.
Mr. Rao also pointed out that Kokapet and Raidurgam were chosen for putting up as securities because there are IT industry hubs there. For the past seven months, he said industrial sector has remained stagnant without any fresh investments; companies operating within it have been rethinking their stance due to lack of incentives from state officials.
“Now what happens if we give away these lands for political purposes into this industry? Will our youth get new employment?” he asked.
