Hyderabad, Aug 15 (PTI) Telangana Chief Minister A Revanth Reddy on Friday said his government would actively encourage local investors and work to ensure profitable returns for them.
Speaking at the inauguration
of a property show organised by the Confederation of Real Estate Developers’ Associations of India (CREDAI) here, Reddy reiterated his commitment to implementing transparent policies, promoting investments, and supporting investors.
He, however, cautioned that real estate businessmen “should not fall under the influence of political rivals,” whom he accused of “creating doubts about the government.” “I chose to attend this event to dispel such misconceptions,” he added.
Reddy highlighted the state’s efforts to attract international investments, saying, “We are visiting countries like the United States, Singapore, Japan, South Korea, Dubai, and also Davos (WEF) for investments and roadshows. If we are inviting investments from abroad, why would we not prioritise those of you working for the development of our country, state, and city? You come first.” Describing himself as having a ‘middle-class mentality’, he claimed he does not intend to “accumulate ill-gotten wealth or transfer it abroad.” In a veiled critique of the previous BRS government, he questioned why the Hyderabad Metro project was not extended to the international airport and other areas.
Responding to criticism of his frequent Delhi visits, Reddy said, “Where else would I go if not the National Capital, the seat of the Central government? A bungalow is provided to the chief minister to secure approvals for various projects, not to be used as a farmhouse or party venue.” Reddy also cited financial reforms, saying the previous government took loans for the Kaleshwaram project at 11.5 per cent interest over 12 years.
He claimed he secured the restructuring of Rs 26,000 crore at 7.5 per cent interest over 35 years with Prime Minister Modi’s support, and is now pursuing the restructuring of Rs 2 lakh crore on similar terms.
The chief minister added that former students of Hyderabad Public School, including World Bank Chairman Ajay Banga, Microsoft’s Satya Nadella, Adobe’s Shantanu Narayen, and investor Prem Watsa, are donating around Rs 300 crore for a new building at the school.
Reddy also pledged to develop the proposed Future City on Hyderabad’s outskirts into “a great city and a role model for the world for 1,000 years.” PTI SJR SSK
