I was reading a Times of India news article this morning on Jaganmohan Reddy. He is the son of former Chief Minister of Andhra Pradesh late YSR Reddy. As per the news, Jagan's wealth rose from Rs 11 lakh in 2002 to Rs 42,000 crore in 2009 in a span of 7 years.
I used a CAGR (Compounded Annual Growth Rate) calculator to find out what is his CAGR for this phenomenal growth rate. The result is an astoundingly high CAGR of 527.2% !!!
How big is 527.2% CAGR? If you would have invested Rs 100/- with Jagan in 2002, this investment would have turned into Rs 3.8 crore in 2009! This is unbelievable. What magic is this?
Well, the magic here is nothing but corruption. No business can give you this growth. This money well-spent could have been used in healthcare, education, infrastructure growth etc of my country.
This is just one example. There are hundreds of thousands of other Jagans in our country. The time has come for us to say: enough is enough.
I used a CAGR (Compounded Annual Growth Rate) calculator to find out what is his CAGR for this phenomenal growth rate. The result is an astoundingly high CAGR of 527.2% !!!
How big is 527.2% CAGR? If you would have invested Rs 100/- with Jagan in 2002, this investment would have turned into Rs 3.8 crore in 2009! This is unbelievable. What magic is this?
Well, the magic here is nothing but corruption. No business can give you this growth. This money well-spent could have been used in healthcare, education, infrastructure growth etc of my country.
This is just one example. There are hundreds of thousands of other Jagans in our country. The time has come for us to say: enough is enough.
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