Telangana Minister for IT, Industries and Urban Development K. T. Rama Rao has alleged that Narendra Modi led BJP government at the Centre is selling off ₹40,000 crore assets belonging to the Central public sector undertakings located in the State as part of its disinvestment and monetisation plans.
In a letter addressed to Union Finance Minister Nirmala Sitharaman on Sunday, Mr. Rama Rao, who is also the working president of the ruling Telangana Rashtra Samithi (TRS), said the Centre was trying to sell about 7,200 acres land belonging to Hindustan Cables Ltd, Hindustan Fluorocarbons Ltd, Indian Drugs and Pharmaceuticals Ltd, Hindustan Machine Tools, Cement Corporation of India and Ordnance Factory in and around Hyderabad.
The lands were allotted to the companies by the State government in the past and at the present government rates the lands could be worth around ₹5,000 crore. In the open market they would be worth around ₹40,000 crore, Mr. Rama Rao said adding that in the event of closure of those Central PSUs the Centre should establish new industrial units or transfer the lands back to the State government.
