Minister explains why Andhra govt 'sold' land to TCS at 99 paise

The Chandrababu Naidu-led Andhra Pradesh government sold 21.16 acres of land in Visakhapatnam (Vizag) to TCS at just 99 paise. Minister Nara Lokesh said, "We felt that giving land at this price is going to create a unique competitive advantage for...Andhra Pradesh to attract the next wave of IT jobs." The project is expected to create nearly 12,000 jobs.