Telugu Desam Party (TDP) MP Kanakamedala Ravindra Kumar has alleged that rampant corruption and policies that made doing business difficult drove away several industries from Andhra Pradesh during the YSR Congress Party (YSRCP) rule.
Unemployment was at its peak in recent years as investments dried up and several industries closed down due to the hostile business environment. A.P. ranks No. 1 in unemployment among graduates with an appalling 24%. Thousands of youth have ended their lives due to unemployment, Mr. Ravindra alleged, insisting that only those industrialists yielding to the demands put forth by the corrupt elements were able to do business.
Addressing mediapersons at the TDP central office near Mangalagiri in Guntur district on Monday, Mr. Ravindra Kumar said potential investments amounting to about ₹1.25 lakh crore did not materialise as the entrepreneurs were scared to foray into the State. They would not be allowed to set up industries if they do not cough up commissions. The government should admit that its vindictive attitude is responsible for the grim industrial scenario, he said.
