Chandrababu mortgages farmers lands  

Andhra Pradesh Chief Minister N Chandrababu Naidu has decided to seek bank loans by mortgaging the lands acquired from the farmers for the construction of capital in Amaravati.  The CRDA commissioner was entrusted the responsibility of executing the government decision. 

The CRDA was also given the authority  of the allotment of land to contract agencies.

The state government has given  collateral to CRDA to get Rs 10,000 crore but the banks insisted the surety of lands.  Already,  the capital region development authority got Rs 2,000 crore funds through bonds. Leaders said the conduct of CRDA meeting by Chandrababu Naidu was against the prescribed rules. In the normal practice,  state Finance department is the sole authority in getting loans. Here,  the state government accorded permission to CRDA directly to seek the loans.

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