Samajwadi Party leader Akhilesh Yadav criticized the BJP and Uttar Pradesh government for allegedly signing investment agreements that have not materialized. He raised concerns about a company formed in 2025, which signed a Rs 25,000 crore MoU in 2026. Yadav questioned the legitimacy of such rapid investments, suggesting possible hidden involvement of BJP members.
Yadav further cast doubt on the credibility of these agreements, pointing out that companies with questionable backgrounds are signing MoUs worth billions. He claimed that most MoUs under the BJP government are dubious, lacking visible outcomes like industrial policies or on-ground projects. The SP chief emphasized the need for transparency in such deals.
In response to the scrutiny, the Uttar Pradesh government clarified that MoUs like the one with startup Puch AI are preliminary and not binding. Chief Minister Yogi Adityanath explained that these agreements are initial steps before thorough evaluation. The government assured that any progress beyond the MoU stage would require strict assessments of the investor’s financial and technical capabilities.
The state government reiterated its commitment to transparency and accountability in promoting innovation-driven investments, particularly in sectors like artificial intelligence. It emphasized the importance of scrutinizing investors’ financial health and technical expertise before proceeding with any projects. The government stated that proposals failing to meet required standards would be terminated.
