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Revolutionary steps yielding desired results: Andhra CM Jagan Mohan Reddy

Meanwhile, Jagan Mohan Reddy appealed to the bankers to extend their full cooperation to the beneficiaries of various welfare schemes in the State.

Published: 26th September 2019 06:21 AM  |   Last Updated: 26th September 2019 06:21 AM   |  A+A-

Andhra Pradesh Chief Minister YS Jagan Mohan Reddy (File Photo |EPS)

By Express News Service

VIJAYAWADA: Asserting that his government’s revolutionary policies are yielding results, Chief Minister YS Jagan Mohan Reddy has said the decision to go for reverse tendering has saved Rs 782 crore public money and it’s a sign that the government is moving in the right direction.

Speaking at the 208th Bankers’ Conference on Wednesday, Jagan, referring to reverse tendering and other path-breaking decisions,  said, “Polavaram re-tendering has proved that we can eradicate corruption and save public money by avoiding awarding works on a platter to contractors who quote exorbitant rates or acquired bidding qualification through unfair means. The first-ever judicial preview of contracts introduced in the State will ensure transparency. It is bound to yield good results as every tender for projects worth over Rs 100 crore will be vetted by the judicial panel headed by a retired High Court judge.’’

Jagan Mohan Reddy added that no other State has taken such revolutionary steps as judicial preview and reverse tendering for projects.

“We want to usher in transparency in governance,’’ he explained. The government is also trying to save public money by reviewing Power Purchase Agreements (PPAs), he added.“The Discoms burdened by `20,000 crore debt will cease to exist if the government does not review the PPAs entered into at higher prices by the previous TDP regime. As electricity charges are already on the higher side for the industry sector in the State, there is no possibility for further enhancement. Therefore, we are leaving no stone unturned to salvage the situation and your support is important for the restoration of health of the electricity sector,’’ the Chief Minister said addressing the bankers.

Meanwhile, Jagan Mohan Reddy appealed to the bankers to extend their full cooperation to the beneficiaries of various welfare schemes in the State. Reiterating that his government is proactive and is committed to implementing all the promises made, Jagan wanted the bankers to open unencumbered accounts to enable beneficiaries to get an uninterrupted flow of incentives directly into their accounts without any deductions.

“Credibility increases only when government and bankers work together and our welfare schemes are aimed at uplifting of various sections of the society. The amount under various schemes will go directly into the bank accounts of the beneficiaries. The bankers should ensure that the full amount reaches the beneficiaries and this could be possible by opening unencumbered accounts,’’ he said.

Stating that the government will pay the banks the amount payable under zero per cent interest loans to farmers and women’s groups, he suggested that bank official stay in touch with the finance department for further appraisals.

He expressed happiness when the bankers said that they were reaching the loan targets during the Kharif season. Finance Minister Buggana Rajendranath Reddy said as the signs of financial slowdown looming large across the nation the bankers should extend cooperation to the MSME sector.

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