Yes, you read that one right. Andhra Pradesh Chief Minister Chandra Babu Naidu is gearing himself up to demand Rs 13,00,000 crore in compensation from the Narendra Modi government.
Talk in political circles is that he and his team are working on a letter to be personally handed over by Babu to Narendra Modi.
As Andhra Pradesh lost Hyderabad city due to bifurcation, Chandra Babu is planning to ask compensation from the Centre revealed Information Minister Palle Raghunadha Reddy. A reference was also made to this affect during the speech by Governor Narasimham.
According to the Andhra Pradesh government, the Centre had spent around Rs 1.4 lakh crore to develop Hyderabad, whereas the united Andhra Pradesh government had spent Rs 5.89 lakh crore to develop the capital city since 1956.
Similarly, the private sector had invested Rs 6 lakh crore. As the total amounts to Rs 13.20 lakh crore, Andhra Pradesh government wants the Centre to release the amount in a phased manner to the newly emerged Andhra Pradesh state.
The TDP government’s argument is that since united Andhra Pradesh was making nearly half of its revenue from Hyderabad owing to such huge investments, losing out Hyderabad following bifurcation has left the Andhra Pradesh state without access to revenue generated in the city. Hence, the Centre must compensate for this loss, says Andhra Pradesh government.
