AP Govt Seeks 49,500 Crore Loans for Pending Projects

Andhra Pradesh Govt Seeks 49,500 Crore Loans for Pending Projects

YS Jagan Mohan Reddy used to criticise the Previous Government of taking more loans, but now his Government is even running the day to day affairs with Loans. This Government’s liabilities are much more when compared to the previous Government at the same time last year.

The Government is now seeking a whopping 49,500 Crores as loan to complete various irrigation projects in the state. This does not include the costs involved for Polavaram Project. Among this, 18,000 Crore will go for the important irrigation projects. Another 24,000 Crore will go for Rayalaseema projects and 7,500 Crore for Uttarandhra Projects.

The Chief Minister wants to get these loans at low interest rates but that is not possible given the financial position of the state. The State officials have indulged in talks with Asian Development Bank (ADB) to fund Rayalaseema projects. However, the Officials failed to convince the Bank Officials.

The Pending Projects in Rayalaseema will cost 33,869 Crores but the State Government sought only 18,000 Crore. They could not answer when the Bank Officials how the remaining funds can be adjusted to complete the projects. So, the loan is now lost, sources say.

Follow @mirchi9 for more User Comments
Ram Gopal Varma RGV 12 o CLOCK Movie-Don't MissAdult to Horror, Maverick Director's New MuseRam Gopal Varma has become the spinning mill coming out with back-to-back films as if...Bhanumathi-&-Ramakrishna-AHA-ReviewDon't MissBhanumathi & Ramakrishna Review- Simple Yet BeautifulBOTTOM LINE Simple Yet Beautiful OUR RATING 2.75/5 Runtime: 93 mins What Is the Film...47 Days ZEE5 Telugu Movie ReviewDon't Miss47 Days Review - Tests your Patience LevelsBOTTOM LINE Tests your Patience Levels OUR RATING 1.25/5 Runtime 1hr 44mins What Is the...Vundavalli Aruna KumarDon't MissTime to Kill 'Undavalli' Factor?Veteran Political Leader, Vundavalli Aruna Kumar who never hesitates to proclaim himself as a well-wisher...Allu Arjun's Smuggling Spot ChosenDon't MissAllu Arjun's Smuggling Spot ChosenAllu Arjun's fans are eagerly awaiting to know how and where the makers of 'Pushpa'...