Rs 1,000 cr TDR bonds scam during YSRCP rule: Narayana

Municipal Administration and Urban Development Minister Ponguru Narayana has revealed that a sum of Rs 1,000 crore has been diverted due to irregularities in Transferable Development Rights (TDR) bonds. Speaking to the media in Tirupati, the Minister stated that a committee has been established to investigate these irregularities and assured that the issues would be resolved by the end of September.
Minister Narayana criticised the previous YSRCP government, alleging that corruption has escalated under its regime. He accused municipal department employees of being misused for personal tasks and pledged to address the problems in the municipal department within six months.
Highlighting the economic challenges of Andhra Pradesh, the Minister stressed the need for industrial development across the state to improve its financial condition and create employment opportunities for the youth. He praised Chief Minister Chandrababu Naidu’s efforts to attract industries and investors to the state.
Minister Narayana also mentioned the rapid progress in establishing Anna canteens, with 100 canteens launched within two months and another 75 set to open on 13th September, with preparations underway on a war footing.
During a review meeting at the TUDA office in Tirupati, the Minister criticised the previous YSRCP government for making poor decisions that allegedly destroyed systems and depleted funds across all departments, particularly citing excessive expenditure on TUDA salaries. He expressed confidence in CM Chandrababu Naidu’s experience in managing state finances and collecting necessary funds.
The meeting was attended by Municipal Commissioner Maurya, TUDA Vice Chairman Venkatanarayana, and other officials.