For Every One Rupee Invested in Kaleshwaram, Return Was Just 42 Paise: Revanth

Speaking at the inauguration of the Credai Property Show, the Chief Minister said the BRS government took a loan for 11.5 per cent interest per annum, and he was successfully able to reduce the interest rate to 7.5 per cent following frequent Delhi visits.

"For a 12-year duration, the loan was taken for an 11.5 per cent interest rate. Even if it's for a business, does anyone take a loan at such an interest rate — 11.5 per cent per annum?," Revanth Reddy questioned.

"If one rupee is spent on Kaleshwaram, 42 paise is the return — which is the cost-to-benefit ratio," he said.

The Chief Minister said that he had to visit Delhi multiple times and met Prime Minister Narendra Modi seeking debt restructuring, citing organisations that already got the nod for similar provisions.

"I have achieved `26,000 crore in debt restructuring for 35 years, and that too for a 7.5 per cent interest rate," said Revanth Reddy.

Criticising the previous BRS government, the Chief Minister said that a person who read over 80,000 books couldn't envision even one additional airport in the entire state.

Citing that neighbouring Andhra Pradesh and Maharashtra also have more than one airport, the Chief Minister said that Telangana will have two more airports — one in Warangal and another in Adilabad.

Further criticising the ones opposing development works, Revanth Reddy said that, even when the Outer Ring Road (ORR) was being built, some people called it Anaconda, and when Hitec City was shaping up, a few cast aspersions related to land allotment.

"Now, a few are calling Fourth City as Four Brothers City. You are my brothers; why should I care about such comments?" said the Chief Minister.