CPI(M) leader Raghavulu flays State for ‘inflated’ investment claims

Communist Party of India (Marxist) politburo member B. V. Raghavulu criticised the Chandrababu Naidu government for making what he called exaggerated claims on industrial growth and investment inflows without a clear plan to realise them. Speaking to the media here on Monday, he said corporate companies were taking possession of land allotted by the State but were not setting up units, leaving large tracts idle. He alleged that firms were more interested in cornering land than establishing industries.

He said no foreign investment had come into the country in the past two years, yet IT Minister Nara Lokesh was claiming that the State had attracted ₹20 lakh crore in investments. Only $2 billion had come into Andhra Pradesh between 2014 and 2024, he said, dismissing the government’s projection of $600 billion by 2029.

On the proposed data centre in Visakhapatnam, Mr. Raghavulu said that while the project was welcome, it would provide only about 300 jobs and did not merit concessions on water and power. He urged the government to focus on attracting investments in footwear, garment, textile and food processing sectors, which he said would generate more employment.