Andhra CM Reddy awards contract value crores to spouse’s firm BCCPL. That might price him his chair

As per a report by The Indian Express, the Jagan Mohan Reddy authorities in Andhra Pradesh is allocating many of the authorities contracts to an organization owned by Reddy household. Bharathi Cement Corporation Private Ltd, an organization wherein the Reddy household holds 49 per cent stake and a member of the household is the director, bagged many of the orders of buy of cement from the state authorities. The Jagan Mohan Reddy-led Andhra Pradesh authorities bought 2,28,370.14 metric tonnes of cement from the Reddy family-owned firm between April 2020 until January 18, 2021. The household holds 49 per cent stake within the firm whereas the remainder is owned by Vicat, a French multinational which offers in building materials. The Reddy household and the French firm are minting hundreds of thousands via authorities orders for cement.While Bharathi Cement Corporation bagged 14 per cent of the overall order made by the Andhra Pradesh authorities, one other firm named India Cements Limited which earlier had invested in Bharathi Cement, bagged orders of 1,59,753.70 MT. “India Cements Ltd received the second-highest purchase orders of 1,59,753.70 MT, which is about 30 per cent less than Bharathi Cements. The India Cements had investments of Rs 95.32 crore in Bharathi Cement and had sold it the same year Vicat acquired 51 per cent in Bharathi,” reads the Indian Express report by Sreenivas Janyala, an Andhra primarily based reporter. Jagan considers the general public cash his private cash and makes use of it nonetheless he needs. Earlier Reddy had come beneath fireplace for an extravagant state expenditure over a household tour to Jerusalem in Israel. Andhra Pradesh authorities launched funds to the tune of Rs 22.52 lakh on the Chief Minister’s safety on the four-day go to.The basic administration division issued the order for releasing this hefty quantity to Triple S. Tours and Travels, Israel, to make the safety preparations. It should be famous that an order issued earlier on July 26, had talked about that Jagan’s go to was purely private and he would bear the expenditure of the private journey. Another order issued on the identical day, permitted Sivaraj Senthil Kumar, Superintendent of Police, to go to Jerusalem upfront from July 29.The rampant corruption within the Jagan Mohan Reddy authorities within the final one and a half years has put Andhra Pradesh on the verge of chapter. A latest CAG report identified that the debt degree of the Andhra authorities rose exponentially in the previous few years. The Jagan authorities borrowed 1.5 lakh crore rupees within the final 20 months, taking the overall debt to nearly 3.73 lakh crore rupees. The Jagan authorities has destroyed the repute of the state as a fiscally accountable and industrialised state, and the state has been making backward progress beneath his rule.