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Is Corruption Pulling Back AP Growth?

It is a known fact that one of the main reasons why state economy doesn't grow is due to the massive corruption among the government officials. Here is another example. It is known that banks are charging 17-18% interest for loans. But did you know that there are certain schemes in AP government where loans are granted at 8% percent.

Though this sounds rosy, here is the reality. The officials are highly corrupted and for 1 cr loan they are demanding 4 lakhs commission. After all the kickbacks are given, it is becoming equal to what the private banks are offering. And when the loan seekers are asking about it politely, the officials are saying "Have you really approached a private bank for loan? Even they will also demand bribes. Keeping that calculation in mind, we have fixed our cuts."

If the system is like this then where will growth and development happen? Wantedly we are not disclosing the names of those government departments and officials but we are hoping this goes to the notice of the AP chief minister Chandrababu Naidu so that he takes appropriate action and delivers justice.

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