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Nabard offers to bear Polavaram expenses
By: Tupaki Desk | 26 Sep 2016 3:59 PM GMT
Union Government offered to take care of 100 percent cost of Polavaram Project as part of the Special Package offered to AP. As a result, Nabard came forward to bear the cost of the project which is a lifeline for the state. Polavaram National Authority and Nabard has reached an agreement in this regard.
Nabard will sanction first installment on October 15th this year. AP Government needn't worry about FRBM norms and repayment of loan as Centre takes the complete responsibility.
Union Minister Sujana Chowdary told Nabard will provide necessary funds for the completion of Polavaram Project within 3 years. He informs Centre is ready to reimburse whatever State Government has spent so far.
Polavaram Project could provide irrigation water to 13 lakh across covering Visakha and 7 other Districts.
Nabard will sanction first installment on October 15th this year. AP Government needn't worry about FRBM norms and repayment of loan as Centre takes the complete responsibility.
Union Minister Sujana Chowdary told Nabard will provide necessary funds for the completion of Polavaram Project within 3 years. He informs Centre is ready to reimburse whatever State Government has spent so far.
Polavaram Project could provide irrigation water to 13 lakh across covering Visakha and 7 other Districts.
