Loans raised for KLIS project are flawless, Union minister

The loans raised by the Telangana state government for the construction of Kaleswaram Lift Irrigation Project (KLIS) are appropriate and as per the RBI norms.

To a question by Congress MP N Uttam Kumar Reddy, the Union minister of state for finance Mr Bhagavath Karad said the Public Sector Banks extended loans for the Kaleswaram project. The banks went through the term loan conditions, technical feasibility, commercial viability, and bankability.

The statement by the union minister in Parliament proved wrong the allegations being levelled by the Congress and BJP of corruption in the execution of the project.

When Mr Uttam Kumar Reddy sought to know the details of total loans raised by the TRS government and its purposes, the union minister said it was not proper to disclose all those details. All the loans raised by the state government with a guarantee were used for development purposes, he said.

The RBI has studied the techno-economic feasibility of all loans taken by the corporations of state government and they were all found to be within the norms of the apex bank, the union minister explained.

The BJP leaders at the national and state levels who time and again accused the chief minister Mr KCR of pocketing money from Kaleswaram project should now shut their mouths.

The Congress leaders too should follow the suit. They are unable to stomach the growing popularity of the TRS party in the state.

The BJP government refused to accord national status to the Kaleswaram or any other irrigation project in the state despite several pleas by the TRS government.

The Opposition parties – BJP and Congress have nothing to criticise the state government but spread false propaganda about corruption and family rule which are untrue in the case of Telangana state.

There is nothing for the people to be discontent with the ruling TRS dispensation as it had been coming out with unique welfare and development programmes that no other state government is doing in the country.

By Gollapudi Srinivasa Rao

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