ZisNews - Breaking News & Updates

AMaravati/Hyderabad, YSRCP leaders on mon accused the Andhra Pradesh authorities of executing a monumental cozenage through and through its power agreement with Axis Energy, a renewable energy firm. G Srikanth Reddy and G Amarnath alleged that the deal, involving a fixed-rate purchase agreement of ₹4.60 per unit for renewable power, imposes an unfair long-term financial burden on the people of Andhra Pradesh. "This is not power procurement; it’s profiteering. Agreeing to such a high rate when cheaper options exist is a betrayal of public interest," said Srikanth Reddy during a press conference in Hyderabad. They claimed that when Y S Jagan Mohan Reddy signed a power deal at ₹2.49 per unit with the Solar Energy Corporation of India , NDA coalition leaders raised a huge hue and cry, alleging a ₹1.10 lakh crore loss. The YSRCP leaders said that the same coalition fixed ₹4.60 per unit for 25 years, locking the rates even during future slumps. Srikanth Reddy and Amarnath also stated that dues to power companies allegedly rose from ₹29,000 crore to ₹86,300 crore under TDP, with a 24 per cent compound annual growth rate , claiming that they dropped to 7.2 per cent during Jagan Mohan Reddy's government. Despite promises to reduce tariffs, Chief Minister N Chandrababu Naidu allegedly imposed a ₹15,000 crore burden, they said. Andhra Pradesh Energy Minister G Ravikumar responded, saying that YSRCP’s narrative is false and that their power purchases were allegedly at higher rates than publicly claimed. He maintained that Axis Energy’s project brings employment, tax benefits, and a reliable mix of solar, wind, and battery storage power based on actual demand. He urged Jagan Mohan Reddy to end his "malicious campaign" and recognise the coalition’s focus on transparency, sustainability, and long-term energy security for the state. This article was generated from an automated news agency feed without modifications to text.

Global News Perspectives

In today's interconnected world, staying informed about global events is more important than ever. ZisNews provides news coverage from multiple countries, allowing you to compare how different regions report on the same stories. This unique approach helps you gain a broader and more balanced understanding of international affairs. Whether it's politics, business, technology, or cultural trends, ZisNews ensures that you get a well-rounded perspective rather than a one-sided view. Expand your knowledge and see how global narratives unfold from different angles.

Customizable News Feed

At ZisNews, we understand that not every news story interests everyone. That's why we offer a customizable news feed, allowing you to control what you see. By adding keywords, you can filter out unwanted news, blocking articles that contain specific words in their titles or descriptions. This feature enables you to create a personalized experience where you only receive content that aligns with your interests. Register today to take full advantage of this functionality and enjoy a distraction-free news feed.

Like or Comment on News

Stay engaged with the news by interacting with stories that matter to you. Like or dislike articles based on your opinion, and share your thoughts in the comments section. Join discussions, see what others are saying, and be a part of an informed community that values meaningful conversations.

Download the Android App

For a seamless news experience, download the ZisNews Android app. Get instant notifications based on your selected categories and stay updated on breaking news. The app also allows you to block unwanted news, ensuring that you only receive content that aligns with your preferences. Stay connected anytime, anywhere.

Diverse News Categories

With ZisNews, you can explore a wide range of topics, ensuring that you never miss important developments. From Technology and Science to Sports, Politics, and Entertainment, we bring you the latest updates from the world's most trusted sources. Whether you are interested in groundbreaking scientific discoveries, tech innovations, or major sports events, our platform keeps you updated in real-time. Our carefully curated news selection helps you stay ahead, providing accurate and relevant stories tailored to diverse interests.

YSRCP slams Andhra govt over 'corrupt' Axis Energy power deal

Global News Perspectives

Customizable News Feed

Like or Comment on News

Download the Android App

Diverse News Categories

Category News

Country News