Telangana govt will pay interest for loan waiver

     Written by : SMTV24x7 | Tue, Mar 28, 2017, 01:27 PM

Telangana govt will pay interest for loan waiver

Hyderabad, March 28: On Monday Finance Minister Etela Rajender announced that government will pay the interest for loan waiver said in Telangana assembly.

Speaking on the Appropriation Bill in the Council, the Minister said after the division of the State under the AP Bifurcation Act, the Central government should give financial support to Telangana to help post-bifurcation adjustments but it was far from encouraging.

"The State's Own Tax Revenues (SOTR) have taken the State forward and today, we are proud that the welfare schemes are being implemented with this encouragement," Rajender said.

The Minister reiterated that the government will pay the loan waiver interest amount to banks during April-May besides clearing the final loan waiver installment to farmers.

"The government has allocated Rs 12,000 crore and subsidy of Rs 5,000 crore to the Discoms in the State to clear debts besides ensuring free power to the agriculture sector and uninterrupted power supply to both industrial and domestic sectors," he said.

On strengthening the education system, he said starting from Aganwadi to universities, the government was firm on doing so and allocated funds accordingly.