YSRCP alleges Rs 3,500 crore liquor scam 'malicious invention' by CM Naidu
leaders M Gurumoorthy and M Bharat on Saturday alleged that the Rs 3,500 crore
liquor scam
is a "malicious invention" by Chief Minister
N Chandrababu Naidu
.
Speaking at a press conference in Rajahmundry, they claimed that the case against YSRCP Lok Sabha member PV
Midhun Reddy
is part of a "
political vendetta
" aimed at "suppressing dissent and diverting public attention."
Productivity Tool
Zero to Hero in Microsoft Excel: Complete Excel guide
By Metla Sudha Sekhar
View Program
Finance
Introduction to Technical Analysis & Candlestick Theory
By Dinesh Nagpal
View Program
Finance
Financial Literacy i e Lets Crack the Billionaire Code
By CA Rahul Gupta
View Program
Digital Marketing
Digital Marketing Masterclass by Neil Patel
By Neil Patel
View Program
Finance
Technical Analysis Demystified- A Complete Guide to Trading
By Kunal Patel
View Program
Productivity Tool
Excel Essentials to Expert: Your Complete Guide
By Study at home
View Program
Artificial Intelligence
AI For Business Professionals Batch 2
By Ansh Mehra
View Program
Gurumoorthy alleged, "The Rs 3,500 crore liquor scam is a malicious invention by Naidu."
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
This Could Be the Best Time to Trade Gold in 5 Years
IC Markets
Learn More
Undo
The Special Investigation Team (SIT) had arrested Midhun Reddy in connection with the alleged scam, which pertains to the previous YSRCP regime.
The leaders accused the
TDP government
of using the liquor scam as a tool to "silence opposition voices" while deflecting scrutiny from the NDA coalition government's alleged corruption.
Live Events
Gurumoorthy condemned the "inhumane denial of basic rights" to Midhun Reddy, including barring his sister from tying a Rakhi during his remand, calling it "utterly despicable politics."
He also accused the TDP of
liquor irregularities
during 2014-19, including bypassing cabinet approvals, waiving an eight percent distillery tax, and causing a revenue loss of Rs 6,500 crore through "favouritism and advance payments."
Bharat alleged that Naidu's name has become "synonymous with liquor corruption", pointing to the alleged privatisation of liquor shops, the proliferation of illegal belt shops, and inflated prices generating illicit profits.
They condemned what they claimed was harassment of YSRCP leaders through "baseless cases" over the past 14 months, alleging that MLAs exploit liquor, land, and sand resources to orchestrate scams in their constituencies for "political gains".
Bharat claimed the YSRCP is committed to fighting this "conspiracy" and urged the public to "resist exploitation".
He alleged that the TDP-led coalition government's failure to control liquor distribution has "damaged families and communities throughout" the state.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
7 minutes ago
- Economic Times
MFIN seeks credit guarantee support from govt to boost bank lending to sector
Microfinance Industry Network (MFIN) has sought credit guarantee support from the government to ensure that banks get comfort in lending to the sector. There is a need for a "leap of faith", which will ensure funding to MFIs and start a virtuous cycle that will help economic activity as well, the self-regulatory organisation's (SRO) chief executive Alok Misra told reporters here. Misra said NBFC-MFIs are dependent on bank lending for almost two-thirds of their resources, and added that banks are showing some reluctance to lend to the sector, leading to "severe liquidity constraints"."Once (bank) funding starts, disbursements (by MFIs) will improve," Misra said, pointing out that the gross loan portfolio for all microlenders has declined by nearly 17 per cent in the three months to June to Rs 3.53 lakh crore, and the number of borrowers has fallen 6 per cent to 7.5 crore. MFIN has written to the government in mid-July seeking a Rs 15-20,000 crore credit guarantee scheme for the sector, where the government guarantees up to 75 per cent of an MFI's borrowings from banks and the banks get the comfort to lend, he said. Pointing out that a similar scheme was implemented successfully during the Covid period in 2021, he said the Rs 7,500 crore fund for the purpose by the government was not utilised as all the MFIs paid their said that MFIs will be meeting top Finance Ministry officials next week to discuss the proposals and follow up by meeting bank also said that the refinance by state-owned Sidbi and Nabard has not been very high in the sector lately and appealed for help on that the MFI sector has had a challenging time for the last year, Misra said there are improvements in the sector lately, with the gross non-performing assets ratio of loans overdue for over 90 days reducing to 3.2 per cent in June from 3.5 per cent in March this collection efficiencies are also improving, he said, pointing out that MFIs' collections have gone up to over 98 per cent now from 95 per cent in January this year. He said there are no issues in Tamil Nadu, despite the state moving an ordinance, which was feared to impact the sector, and added that in the case of Karnataka that undertook a similar move, there is an improvement, with the proportion of loans overdue for up to 180 days, declining to 6.08 per cent from 9 per cent six months ago. Denying the RBI's charge of the sector indulging in usurious interest rates from borrowers, Misra said the weighted average lending rate was 23.66 per cent in June and has been "range-bound" for the last few that sometimes statements are made, which are not in line with the facts, Misra claimed that even the outlier MFI will not charge an interest rate of over 27.5 per return on equity is a low 10 per cent because of the interest rates charged, due to which investors can become wary of entering the sector, he said, welcoming the faith shown by some investors by putting fresh equity in the problems faced by the sector are neither cyclical nor structural, he said, stressing that the sector plays a very important role in the overall economic activity and contributes upwards of 2.5 per cent to the gross value added. He dismissed concerns about the upcoming state elections in Bihar, one of the biggest states for the industry, that may affect the industry in any way.
Economic Times
7 minutes ago
- Economic Times
Jawa Yezdi Roadster 2025 launched with customisation options : Check price, features & other details
Synopsis Jawa Yezdi Motorcycles has launched the Yezdi Roadster 2025, starting at Rs 2.09 lakh, offering six factory-backed custom combinations and over 50 options. The bike features a new 350 Alpha2 Liquid-Cooled engine, tuned to deliver 29PS and 30Nm, a six-speed gearbox, and dual-channel ABS. Available in standard and premium variants with customizable options, it comes with a 4-year/50,000-km warranty. Jawa Yezdi Roadster Jawa Yezdi Motorcycles on Tuesday announced the launch of the Yezdi Roadster 2025, starting at Rs 2.09 lakh. The motorcycle offers six factory-backed custom combinations with more than 50 options. The bike comes with new silhouette, sculpted fuel tank, and wider rear tires. The iconic twin-barrel have been retained, while the chopped rear fender and bold '69' decals pay tribute to the brand's rich legacy of pure Yezdi Roadster offers six factory custom combinations and over 20 plug-and-play accessories that allow riders to personalise their bikes to suit their style. This ranges from modular seating options to customisable handlebars, visors, and crash guards. Riders can also switch between a minimalist scout-styled tracker solo seat and a touring-friendly dual setup in minutes. Premium touches such as the Faravahar insignia on the tank and behind the single seat celebrate Yezdi's Parsi heritage, adding authenticity and luxury to its design. 'The Yezdi Roadster is a wolf in wolf's clothing. The memories of a Yezdi rumbling through Indian roads and hearts never really went away. The cool dads and lads rode on real roads, on a real bike and created real stories. Their first job, first fall, first love was all on a Yezdi. Yezdi has been a way of life, an attitude, a thought, since inception, born as a challenger in a monopolistic market. Renegades who dared to carve their own path made Yezdi their cultural emblem,' said Anupam Thareja, Co-founder of Jawa Yezdi Motorcycles. 'The new Roadster is 'Born Out of Line' to become the call of the wolf to all the new-age wildcards. With a bold design, cutting-edge performance, and touring-ready engineering, the Yezdi Roadster is a war cry for those who chart their own course, your tribe is calling," he said. The Roadster is equipped with the new 350 Alpha2 Liquid-Cooled engine, tuned to deliver 29PS and 30Nm for an exhilarating yet smooth ride. It also offers the first-in-segment six-speed gearbox and assist & slipper clutch ensure effortless gear shifts, whether you are navigating city streets or cruising on for long rides, the Roadster offers a 12.5 litre fuel tank with a range of over 350 km. The centre-forward footpegs create a relaxed riding triangle without compromising on handling. The motorbike also is fitted with dual-channel ABS from Continental, features 320mm front disc brakes and 240mm rear disc brakes that ensure precise stopping power. The telescopic front suspension and dual rear shocks are calibrated for stability and comfort, while its 795mm seat height and optimised ground clearance. The 2025 Roadster comes with a standard 4-year/50,000-km warranty, optional coverage for up to six years, one year of roadside assistance, and a host of other ownership benefits, available at close to 450 service stations across India. Variants and Color Options: Cutomisable The 2025 Yezdi Roadster is available in two distinct variants, including the Standard and the premium variants. Designed for bold individuality, available in four striking colours and price: Sharkskin Blue (Rs 2,09,969): Vibrant and youthful, perfect for standing out. Smoke Grey (Rs 2,12,969): A glossy, balanced option for understated elegance. Bloodrush Maroon (Rs 2,16,969): A signature Yezdi colour, rooted in heritage. Savage Green (Rs 2,21,969): A dark, sporty favourite among enthusiasts. The Shadow Black (Rs 2,25,969) comes in matte black, with exclusive blacked-out trims, multi-functional blinkers that double as taillights It also has multi-functional blinkers that double as tail-light, in a forward-looking Roadster customisations include: Handlebars: Choose between hydroformed standard handlebars for enhanced strength or a wider straight handlebar for a commanding cockpit feel. Visors & Cowls: Short and tall touring visors, paired with headlight cowls, for added wind protection and style. Crash Guards: Twin-rod crash guards with framed sliders for enhanced safety. Touring Accessories: Solo rider and pillion backrests, rear racks, and multi-functional blinkers are all available to enhance touring convenience.
Economic Times
9 minutes ago
- Economic Times
RVNL Q1 Results: Cons PAT slumps 40% YoY; revenue, income see marginal dip
Rail Vikas Nigam Ltd (RVNL) on Tuesday reported a 39.99% year-on-year (YoY) decline in its consolidated net profit after tax to Rs 134.36 crore for the quarter ended June 30, 2025, compared to Rs 223.92 crore in the same period last year. ADVERTISEMENT Revenue from operations came in at Rs 3,908.77 crore, down 4.05% YoY from Rs 4,073.80 crore in Q1FY24. Total income also fell 4.61% YoY to Rs 4,136.96 crore from Rs 4,336.75 crore in the corresponding quarter last year, indicating a softer topline performance. On the profitability front, profit before tax (PBT) stood at Rs 173.41 crore, marking a sharp 42.51% decline YoY from Rs 301.61 crore in the year-ago period. However, the total expenses of the company for the quarter stood at Rs 3,972.92 crore, marginally lower by 1.57% YoY from Rs 4,036.50 crore in the company witnessed a steep 70.74% quarter-on-quarter (QoQ) fall in net profit from Rs 459.12 crore in Q4FY25, reflecting weaker performance at the start of the new fiscal a separate announcement, RVNL informed exchanges that its Board of Directors has noted a Ministry of Railways decision regarding a change in the shareholding pattern of Kinet Railway Solutions Private Limited, a joint venture company. ADVERTISEMENT As per the new arrangement, Joint Stock Company Metrowagonmash will see its stake reduced from 70% to 35%, Rail Vikas Nigam Limited will retain its 25% holding, and Joint Stock Company Locomotive Electronic System will increase its stake from 5% to 40%. Unlock 500+ Stock Recos on App RVNL posted its Q1 results close to the market's closing hours, post which, the stock ended 4% lower at Rs 329.05 on the BSE. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
