TS government has released Rs 4,500 crore to banks in September
Telangana CM K. Chandrasekhar Rao
Hyderabad: Telangana state Chief Minister K. Chandrasekhar Rao has lodged a complaint against public sector banks to the Reserve Bank of India governor Dr Raghuram Rajan.
He brought up the de-lay in disbursing fresh crop loans to farmers even after the state government released 25 per cent of previous year’s arrears to banks last month.
Dr Rajan on Wednesday called on Mr Rao at the Secretariat. While the farmers in the state owe nearly Rs 18,000 crore to banks over the last year, the TS government has released Rs 4,500 crore to banks in September as part of first instalment. It agreed to pay the remaining arrears in three equal instalments of Rs 4,500 crore each every quarter.
“We are a new state formed just four months ago. We are facing severe financial and administrative problems. Despite all this, we have released Rs 4,500 crore to banks towards payment of first instalment of loan arrears as farmers are in deep trouble due to poor monsoon.
We have promised crop loan waiver up to Rs 1 lakh in our election manifesto and we are committed to it. The 25 per cent arrears released by us have been credited in the bank accounts of farmers. Even after this, the banks are delaying in granting fresh loans to farmers,” Mr Rao told the RBI governor.
Responding to this, Mr Rajan assured Mr Rao that he will look into the matter and the issue will be sorted out soon. Mr Rao also sought the cooperation of the RBI in rebuilding the new state.
“Our top priority is to develop the industrial sector. I request the RBI to consider funding to develop industrial estates in the state,” Mr Rao said.
He also brought to the notice of Mr Rajan that the government has devised plans to restore 45,000 water bodies like lakes, ponds by spending nearly Rs 25,000 crore in five years. He urged the RBI to consider refinancing through Nabard for this ambitious project.
Mr Rajan said that the RBI would create a window for rural infrastructure development and funding for restoration of tanks would be considered.
Mr Rao also sought financial assistance from banks to implement “Haritha Haaram” project to improve greenery in the state by planting 230 crore saplings in three years.
( Source : dc correspondent )
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