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What Did You Study In The US Lokesh Garu?

What Did You Study In The US Lokesh Garu?

The latest bone of contention in Andhra Pradesh is about the raising of Rs 2000 crore by issuing Amaravathi bonds by AP Capital Regional Development Authority.

Well, the issue was made to facilitate the building of the state capital according to Chandra Babu government.

Raising the point, Dhone MLA Buggana Rajendranath Reddy pointed out that while AP IT minister Lokesh's excitement was for all to see, the honorable minister must realise that there is a difference between a 'grant' and a 'bond'.

He was commenting following a tweet by Lokesh expressing his happiness over the AP government raising Rs 2000 crore by issuing bonds.

Reddy pointed out that while the Centre had given Rs 1500 crore as a 'grant' to the state of Andhra Pradesh, the state government had raised money through 'bonds'.

The Dhone MLA wondered if Lokesh actually understood the difference between a grant and a bond.

Reddy clarified that while a bond was more or less a loan which has to be returned with interest, a grant given by the Centre was money received without any such strings attached.

Buggana further questioned as to how Lokesh who was educated in a foreign university failed to understand this vital point.

He asked as to who Lokesh was trying to fool by making such inane statements.

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Tags: Amaravati Buggana Rajendranath Reddy Nara Lokesh