Smugglers Save Chandrababu Naidu
Plagued by poor funds and no clue regarding waiving off massive farm loans, the Andhra Pradesh government is all set to get a much-needed lifeline with the Central government clearing its request for auctioning red sanders and generate income.
The AP forest department has reportedly announced that it has secured permission to sell 4,000 tonnes of red sanders, seen as some welcome relief to the cash-strapped government. Sources say red sanders, which is valued at Rs 1,000 crore, will come in handy for mobilizing funds as payments to banks and rescheduling of agricultural loans.
Sources say that the government also has plans to grow red sanders and use them for financial securitization, for obtaining future loans or raising funds to manage any crisis. AP has approximately one crore acres of forest land while red sanders are grown in approx. 10 lakh acres of land mostly in Chittoor, Kurnool and Kadapa districts.
With the permission to auction 4,000 tonnes of red sanders now, the state has stocks for another 4,000 tonnes ready for auctioning. Well all the wood which has been seized from smugglers over last decade seems to be finally rescuing AP CM slightly from financial mess!