YSRCP's 'mining extortion' in AP: Earn Rs 180 cr per year with 'zero' investment!

If we are 'rulers' and have 'government power' in our hands, it's easy to earn hundreds of crores of rupees per year with zero investment.

That's what few YSRCP leaders in Andhra Pradesh had proved after coming to power in state just a year ago.

A stunning 'extortion racket' and modus operandi of few YSRCP leaders to extort money from a mining company in East Godavari district was exposed by a prominent Telugu newspaper "Andhra Jyothy" in its issue dated June 21, 2020, Sunday.

A business involved in mining business in Vanthada village in Prathipadu mandal in East Godavari district applied for laterite mining prior to bifucation of Andhra Pradesh when Congress was in power.

He secured mining lease for 20 years over an extent of 200 acres on the name of his family members.

He minted hundreds of crores of rupees over the past five years by mining 20 lakh tonnes of laterite per year and selling to several cement companies across India and even exported to Hong Kong, China through Kakinada port.

At this juncture, YSRCP came to power in AP in May 2019 and few 'key YSRCP leaders' have set their eyes on this businessman. They felt that as ruling party leaders, they should control mines and earn money and why they should be in the hands of others.

They started 'dealing' with the businessman to handover his mines. He initially refused.

Then YSRCP government started issuing notices to him for flouting mining norms and imposed huge penalties. The YSRCP leaders created such a situation for him that he was left with no option but to surrender to YSRCP leaders.

A 'forcible agreement' was reached between the businessman and YSRCP leaders. As per this, the mines will remain on the name of businessmen but entire mining activity and trading will be done by YSRCP leaders.

In return, the businesman will get 11% of the mining earnings and YSRCP leaders will take away the rest 89%,

In this manner, YSRCP leaders are earning Rs 180 crore per year with zero investment.

It remains to be seen how YSRCP government will react to this report published in Andhra Jyothy.