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Telangana Govt seeks help of banks
With the State facing financial crisis due to various reasons including demonitisation, the Telangana government is now looking towards the financial institutions to complete the irrigation projects.
Fund crunch hits projects
Hyderabad: With the State facing financial crisis due to various reasons including demonitisation, the Telangana government is now looking towards the financial institutions to complete the irrigation projects.
State Finance Department is seeking financial assistance from banks to complete the projects without delay. While the Andhra Bank came forward to fund the prestigious Kaleswaram Pranahita project, the government is holding talks with other public sector banks for the completion of major irrigation projects which are under progress.
Top officials of the State Finance Department told The Hans India that nearly Rs 14,000 crore, out of Rs 25,000 crore allocations made for irrigation sector for the year 2016-17, has been spent in eight months of this financial year. It requires another Rs 11,000 crore to complete the
proposed works.
Officials said Rs 1,400 crore had been allocated for A Madhav Reddy project – SLBC, including Dindi lift irrigation, Rs 6,300 to Kaleswaram, Rs 7,800 for Palamuru lift irrigation project, Rs 700 crore for Devadula project, Rs 300 crore for Kalwakurthi, Rs 125 crore for Bheema, Rs 125 crore for Nettempadu, Rs 1,030 crore for Sitaramasagar lift irrigation project, Rs 350 for Yellampalli and Rs 2,250 crore for Mission Kakatiya second phase programme.
Officials said most of the works taken up in the first phase this year were midway. The delay in the release of funds during the third quarter of this year already resulted in stalling the works at many projects. Hence the government is seeking financial assistance from the banks.
However, the officials did not divulge the details of the quantum of funds they were seeking from the banks. According to sources, private banks were also coming forward but a decision whether to seek funds from these institutions would be taken only after the response from public sector banks.
The Irrigation Department also requested the Union Ministry of Water Resources to help the State government by releasing funds under Pradhan Manthri Krishi Sanchay Yojana (PMKSY).
