Hyderabad: With the Strategic Road Development Plan (SRDP) mired without funds, the government on Tuesday issued an order to borrow a rupee term loan (RTL) of Rs 2,500 crore. The money will be availed in instalments based on requirement.
The SRDP needs Rs 1,000 crore for land acquisition and Rs 250 crore for construction. It had recently cleared bills worth Rs 495 crore raised through municipal bonds.
The corporation also requires about Rs 300 crore to put ongoing projects back on track.
The corporation is not in favour of municipal bonds as financial institutions are demanding high interest rates, and none turned up for the previous auction at lower rates of interest.
The corporation raised only about Rs 100 crore at 10 per cent interest, against the Rs 200 crore needed. The Rs 1,000-crore reserve fund has just Rs 50 crore.
Against this backdrop, the corporation is depending on the RTL loan worth Rs 2,500 crore, expected to last the SRDP three years.
The municipal administration department has also hired SBI Capital Markets Limited as consultant to raise RTL loan with 0.1 per cent fee. The repayment period will be fixed by the banker.
He had also indicated that certain systems in the revenue department which cause much worry to the revenue staff would be abolished
While inaugurating the hunger strike camp, BJP state president Dr K. Lakshman appealed to the BJP workers and people to destroy the belt shops.
A meeting of the Board was held under the chairmanship of Mohammed Saleem on Thursday.
According to senior officials of the civic body, open urination is an area of concern in every city.
Laxman said that the people are in a dilemma about which minister sits where and where they could meet them.
Defeat of Kavitha, legal setbacks, intermediate student suicides and RTC strike marked year I of TRS II.
Their search revealed seven long strips of gold tightly wrapped within a black adhesive tape and concealed inside hollow pipes under the seats.
The DNA samples collected from the victim are said to have matched with that of her parents’ DNA, according to sources.
However, the court said that the investigation by SIT set up by the state government can go on.
Court asks govt to seek SC advice on storing bodies.
Mazda swept all the trophies at stake to return with 18 of them!
Court slams state over Biodiversity flyover closure.