Borrowing Loans For Development, Not To Swindle: CM

Hyderabad, Feb.23 (Maxim News): Chief Minister K Chandrasekhar Rao today charged the Opposition to avoid making false remarks against the government for obtaining loans.

During the debate on vote-on-account budget in the Assembly, the Chief Minister said even the United States of America borrowed loans for development and other nations will do so. “Any State government will take loans from the banks and financial institutions for development programs and not to swindle funds”, he clarified. He cited that China, Japan, the US and other nations were taking loans and implementing plans for rapid growth and there was nothing wrong in taking loans and we need to use funds for speedy development, KCR said.

The Modi Government at the Centre was not able to find a solution to river issues despite repeated appeals. A qualitative change has to come at the Centre as the rulers are failing to address the key issues. State bonds for 25 years have been sold like hot cakes and the State will spend about Rs 30 lakh crore in the next 10 years, KCR said. “We have addressed the issues of rivers from the neighboring States and achieved all permissions for projects from the Centre. The Palamur Ranga Reddy Lift scheme will irrigate 10 lakh acres, he said. KCR also hoped that there will be a qualitative change at the Centre after LS polls. (Maxim news)