HYDERABAD: Disclosing that the World Bank is set to extend financial assistance to the state for its development initiatives, Chief Minister A Revanth Reddy on Thursday said that his government would not make the mistake of securing loans at high interest rates like the previous BRS administration.
Addressing the gathering after hoisting the national flag at Golconda Fort where the official Independence Day celebrations were held, the chief minister said: “Our government is committed to ensuring that we do not burden the people with high-interest debts, unlike the previous administration.”
He said that the discussions with World Bank representatives were positive, and the government has secured their support at favourable interest rates. Revanth accused the previous government of financial indiscipline which resulted in a significant increase in the state’s debt. “At the time of Telangana’s formation, the state’s debt stood at Rs 75,577 crore. By December last year, it had shot up to Rs 7 lakh crore,” the CM said.
Highlighting the achievements of the Congress-led state government in the last nine months, he said that women in Telangana have saved Rs 2,619 crore through the free bus travel scheme. “Our government has spent Rs 242 crore for the LPG subsidy scheme, benefiting over 85 lakh households while 47.13 lakh families are availing the Gruha Jyothi scheme,” Revanth said.
Reiterating his government’s commitment to farmer welfare, the chief minister said that Rs 31,000 crore was allocated for crop loan waiver. He reiterated that his government will launch Rythu Bharosa scheme by considering all suggestions and finalising the modalities and said that the administration has identified 33 varieties of paddy for the Rs 500 per quintal bonus.
“To address land related issues, the government is mulling an integrated Act,” the chief minister said.
“Soon an Education Commission will be constituted while Anganwadi centres will be upgraded as pre-primary schools. The task of providing quality education, skill development and job creation will be taken up on mission mode,” Revanth said.
“Telangana will be promoted as the gateway of the world. Brand Telangana will soon be visible on the world platform. As part of these efforts, Minister D Sridhar Babu and myself visited America recently. We projected Telangana as a Future State and explained the initiatives — Future City, Musi Riverfront Development project, Regional Ring Road, international standard civic infrastructure, Metro Rail expansion etc. Our government entered MoUs with companies and achieved a record Rs 40,000 crore investments in Telangana at Davos. Our government already started an action plan to execute the agreements. We strongly hope that the huge investments will provide employment to Telangana youth,” the CM said.
Meanwhile, he hailed the Congress and its leaders for their efforts for getting India its Independence. “The contributions of the Congress during the freedom struggle and in nation building are significant and remarkable. Today’s generation should understand the facts and acquire knowledge,” the chief minister said.