Chief Minister N. Kiran Kumar Reddy strongly pitched for investments in the State seeking to allay apprehensions about the bottlenecks in the form of power shortages.
The Chief Minister, who formally launched the tractor manufacturing facility of auto major Mahindra & Mahindra here on Wednesday, admitted that there was indeed a problem posed on account of shortage of power. Though the State had an additional installed capacity of 7,000 MW, there was no gas for generating power.
Shortage of gas had forced the State to buy expensive power at Rs. 12 a unit and the government was exploring ways to provide this quantum free of cost to farmers.The expenditure incurred on buying power, which amounted to Rs. 300 crore a month for the coming three months was in addition to the Rs. 5,500 crore subsidy being provided by the government to the farm sector.
He was hopeful that clearances accorded to 69 proposals received by the government to the tune of Rs. 1.33 lakh crore with a job potential of 1.48 lakh would materialise soon.