Should Prime Minister Modi Consider Restructuring Rs 2 Lakh Crore Loans?
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Synopsis
In a bold move, Telangana Chief Minister A. Revanth Reddy urges PM Modi to restructure Rs 2 lakh crore loans to alleviate the state’s economic burden. With ambitious plans to transform Hyderabad and secure key project clearances, his government aims for a brighter future amid significant challenges. Can these efforts reshape Telangana's economic landscape?
Key Takeaways
- Request for restructuring Rs 2 lakh crore loans to alleviate economic burden.
- Focus on developing Hyderabad into a 'Great City' with historic significance.
- Proactive engagement with central government for project clearances.
- Emphasis on sustainable development through initiatives like HYDRAA.
- Vision to invite global investments while prioritizing local investors.
Hyderabad, Aug 15 (NationPress) The Chief Minister of Telangana, A. Revanth Reddy, made a significant request to Prime Minister Narendra Modi on Friday, urging him to restructure the loans acquired at exorbitant interest rates by the former government.
He pointed out that the Congress administration is grappling with a serious economic crisis exacerbated by escalating debt and interest obligations.
"In an effort to navigate this challenge, I successfully negotiated with the financial institutions where the state had taken loans, resulting in the restructuring of Rs 26,000 crore loans at a 7.5% interest rate over 35 years," he stated.
The Chief Minister emphasized the necessity for the Union Government to intervene to assist the state during this crisis and formally requested Prime Minister Modi to consider the restructuring of Rs 2 lakh crore loans.
He also proclaimed his vision for transforming Hyderabad into a "Great City".
"My objective is to develop the city in such a remarkable way that it will be remembered for 100 or even 1000 years to come. Just as N. Chandrababu Naidu pioneered Hi-tech City and YS Rajashekhar Reddy built the Outer Ring Road, the legacy of my efforts will also be recognized in history," he remarked.
Revanth Reddy expressed his enthusiasm and dedication to the advancement of Telangana.
He dismissed the opposition's criticism regarding his frequent trips to Delhi, clarifying that these visits are essential to secure central clearances for pending state projects. He criticized previous administrations for misusing the Chief Minister's residence in Delhi for social gatherings.
The Chief Minister mentioned his journey to Delhi aims to obtain clearances for significant projects including the Musi Rejuvenation initiative, the second phase of the Metro Rail, and ensuring last-mile connectivity. The Metro extension should reach Shamirpet and Medchal. Additionally, the government seeks central approval for the Regional Ring Road, Regional Ring Rail, and airports.
A proposal for establishing a Dry Port on the Greenfield highway connecting Hyderabad and Amaravati has been submitted to the Centre and is awaiting approval. The state is being developed strategically across Core Urban, Semi Urban, and Rural Areas. Plans for radial roads connecting the ORR and RRR have already been formulated.
CM Revanth Reddy criticized the previous government for failing to expand the metro rail project, suggesting that Hyderabad's traffic issues could have been mitigated had the metro rail expansion been completed in the last decade.
He highlighted that the core aim of HYDRAA is to safeguard water bodies from encroachment. The CM warned builders against being misled by misinformation campaigns against HYDRAA propagated by a senior opposition leader.
The Chief Minister cautioned the real estate sector not to be influenced by the opposition's "propaganda" against the government, asserting that government policies and constructions are vital for state progress.
"We are advancing with development plans while addressing misconceptions and doubts. Disagreements among leaders have occasionally fueled such uncertainties," he stated, asserting that the government took all necessary actions to compete globally without policy paralysis following the change in state administration.
Stating the government's goal of attracting investments through transparent policies, the Chief Minister asserted that it is the government’s duty to both protect and promote investments for profit.
"Investors risk losing profits if they succumb to misconceptions fostered by political figures," he warned, assuring that the government is poised to clarify all uncertainties.
"We are already engaging with global investors, prioritizing local investors in our initiatives," he concluded.
Point of View
Telangana's approach under CM Revanth Reddy stands out. His proactive engagement with the central government, particularly in seeking loan restructuring and project clearances, reflects a commitment to tackling economic challenges head-on. The focus on infrastructure development in Hyderabad is commendable, showcasing a blend of ambition and practicality. The ongoing dialogue with the Union Government is crucial for the state's progress, emphasizing the importance of collaboration in governance.
NationPress
19/08/2025
Frequently Asked Questions
What is the main request made by Telangana CM to PM Modi?
Telangana Chief Minister A. Revanth Reddy has requested Prime Minister Modi to restructure Rs 2 lakh crore loans borrowed at high interest rates by the previous government.
What economic challenges is Telangana facing?
The state is experiencing a severe economic crisis due to escalating debt and interest burdens from loans taken by the previous administration.
What projects are being prioritized by the Telangana government?
The government is prioritizing the Musi Rejuvenation project, the second phase of the Metro Rail, and last-mile connectivity extensions.
How does CM Revanth Reddy plan to develop Hyderabad?
CM Reddy aims to transform Hyderabad into a 'Great City' with significant infrastructural developments that will be remembered for centuries.
What is HYDRAA, and why is it important?
HYDRAA is an initiative aimed at protecting water bodies from encroachment, ensuring sustainable urban development amidst increasing construction pressures.
