If Andhra Pradesh Chief Minister YS Jaganmohan Reddy feels that 'friendship' with Telangana Chief Minister KCR is important for him and he does not want any confrontation with KCR, Andhra Pradesh will lose nearly Rs 1.20 lakh crore.
This is the summary of the second day meeting between TS and AP officials at Pragathi Bhavan on Saturday, which was held as a follow-up to the meeting between KCR and Jagan at Pragathi Bhavan on Friday.
The meeting was held to discuss on sharing of assets and liabilities of common institutions listed under Schedule IX and X of the AP Reorganisation Act, 2014.
The chief secretaries of AP and TS besides senior officials from various departments from both the states participated in the meeting.
In the meeting, the Telangana officials made it clear that the assets of common institutions should completely belong to a state in which the particular institution is located.
This would mean that all the institutions automatically belong to Telangana as they were set up in Hyderabad because it was the capital of Undivided AP.
All these institutions together own assets worth Rs 2 lakh crore in the form of valuable lands and buildings in Hyderabad.
Jagan simply handed over AP Secretariat, Assembly, HoD buildings in Hyderabad to Telangana to maintain 'cordial relations' with KCR and Telangana government within a week of becoming CM of AP.
If Jagan adopts same policy, then he has to leave all the institutions in Hyderabad to Telangana.
Normally, all the assets are being shared in the ratio of 52:48 between AP and TS in proportionate to their population. AP is entitled for 52 per cent share while TS 42 per cent share.
However, KCR has been rejecting this saying that they will only share the funds deposited in various banks of these institutions with AP but will not share lands, buildings and other assets as they belonged to Telangana as per geographical location.
If Jagan does not want confrontation with KCR, he has to agree for KCR's proposal.
This will result in AP losing assets worth Rs 1.20 lakh crore in Telangana.
It remains to be seen whether Jagan prefers friendship with KCR over the interests of AP or fight with KCR to claim rightful share for AP in the assets held by common institutions in Hyderabad.