Financial Daily from THE HINDU group of publications
Saturday, Dec 18, 2004
Financial Daily from THE HINDU group of publications Saturday, Dec 18, 2004 |
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Agri-Biz & Commodities
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Economic Offences Probe ordered into Israeli farm tech project in Kuppam Our Bureau
Hyderabad , Dec. 17 THE State Agriculture Minister, N. Raghuveera Reddy, has ordered a judicial inquiry into alleged misappropriation of funds in the Israel farm technology demo project initiated by the former Chief Minister, Mr N. Chandrababu Naidu, in his Kuppam constituency. The Minister, however, clarified that the project would continue and after a study, the Government would see if it could be replicated elsewhere. The inquiry is confined to misappropriation. The Minister's announcement to this effect came at the end of an hour-long debate in the Legislative Assembly on Thursday that saw Congress members hurling charges of corruption and favouritism against Mr Naidu while the Opposition Leader remained unperturbed. In a novel strategy, Mr Naidu and his party colleagues sat through silently without getting provoked and raising any objection, till the Minister announced the inquiry. Later, Mr Naidu said they had kept quiet to expose the "drama" enacted by the ruling party. He was not worried over the inquiry, which was the 17th against his Government. Raising the issue through a short notice question, Government Chief Whip, Mr N. Kiran Kumar Reddy, and other Congress members said that the previous Telugu Desam Government cleared the project a year before the company was actually formed. The equity capital of the company was just Rs 200 but the amount paid to the consultants was Rs 20 crore. "The project was aimed at benefiting a few supporters of Mr Naidu," they alleged. The Minister said he had no information of Cabinet clearing the project before the formation of the company and its links with Mr Billy Rao of IMG Sports Academy.
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