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CBN gets a big shock from Centre
By: Tupaki Desk | 5 Jan 2016 2:51 PM GMT
Union government which has been troubling the cash starving Andhra Pradesh has offered another shocker. Centre had decided to divide the loans brought from foreign financial agencies in the Population ratio.
In all, united Andhra Pradesh had raised loans to the tune of Rs 8,928 crore from different foreign financial institutions. These loans are for the infrastructure projects which are high in and around Hyderabad.
Earlier there is a proposal that the loans will be shared to the states where the projects are. Accordingly, Telangana state has to pay 5500 Crore as its share and AP was supposed to get 3500 Crore.
But Telangana government also objected to the distribution of some of the loans on the basis of place of utilization rather the population ratio. Now center has clarified that these loans will be divided in population ration.
If the loans shared as population basis Telangana will get a share of 3745 Crore in these loans. That means it will be a relief of 1755 Crore for the new state. AP is reportedly aghast with this decision of centre.
Officials of AP govt are questioning "Why should AP have to pay Telangana's share as well? 90% of the loans were used for the development of Hyderabad and KCR is enjoying the revenue of Hyderabad today"
In all, united Andhra Pradesh had raised loans to the tune of Rs 8,928 crore from different foreign financial institutions. These loans are for the infrastructure projects which are high in and around Hyderabad.
Earlier there is a proposal that the loans will be shared to the states where the projects are. Accordingly, Telangana state has to pay 5500 Crore as its share and AP was supposed to get 3500 Crore.
But Telangana government also objected to the distribution of some of the loans on the basis of place of utilization rather the population ratio. Now center has clarified that these loans will be divided in population ration.
If the loans shared as population basis Telangana will get a share of 3745 Crore in these loans. That means it will be a relief of 1755 Crore for the new state. AP is reportedly aghast with this decision of centre.
Officials of AP govt are questioning "Why should AP have to pay Telangana's share as well? 90% of the loans were used for the development of Hyderabad and KCR is enjoying the revenue of Hyderabad today"
