A strange development was witnessed on Wednesday, June 25, 2020, when Andhra Pradesh industries ministerMekapati Goutham Reddy visited the reputed Indian School of Business (ISB), Hyderabad and announced partnership between AP government and ISB, to revive economic growth in Andhra Pradesh.
As per this agreement, ISB will help Jagan government in reviving the AP economy and formulate a roadmap for sustainable development in AP.
Ironically, this development came on a day when AP Chief Minister YS Jaganmohan Reddy, who is famous for launching free cash distribution schemes day in and day out in the name of Navaratnalu or welfare schemes, even by taking loans and selling off government lands, transferred another Rs 354 crore into the bank accounts of about 2.36 lakh women in the age group of 45 to 60 years hailing from only a particular caste "Kapu" at the rate of Rs 15,000 each. Under this scheme named "Kapu Nestham", Jagan announced to transfer Rs 15,000 each for five years.
On this occasion, Jagan proudly declared that he had transferred Rs 4,470 crore into the bank accounts of lakhs of beneficiaries within one year of becoming CM.
Now, if this is the mindset of rulers, who are more interested in creating and consolidating their own vote bank at the cost of public money to remain in power for long, is it possible for anyone, let alone ISB, on this earth to revive economic growth and prepare roadmap for sustainable development.
Top business schools in the world like ISB call for 'financial discipline' and 'financial prudence' to achieve economic growth. Can anyone find financial discipline and financial prudence anywhere in AP even looking through magnifying glass?