Can Telangana CM Secure Low-Interest HUDCO Loans for Major Projects?
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Synopsis
Telangana's Chief Minister A. Revanth Reddy is advocating for lower interest loans from HUDCO to promote essential development projects in the state. This effort highlights the government's commitment to facilitating growth and infrastructure improvements.
Key Takeaways
- Telangana CM A. Revanth Reddy is advocating for HUDCO loans at lower rates.
- Key projects include Bharat Future City and Hyderabad Metro Rail.
- Positive dialogue with HUDCO Chairman regarding loan restructuring.
- Importance of affordable financing for state development.
- Invitation to the upcoming Telangana Rising 2047 Global Summit.
Hyderabad, Dec 1 (NationPress) The Chief Minister of Telangana, A. Revanth Reddy, made a significant appeal on Monday to the Housing and Urban Development Corporation Limited (HUDCO) for lower interest rate loans aimed at supporting crucial development initiatives initiated by the state government.
This request was made during a meeting with HUDCO Chairman Sanjay Kulshrestha.
As per the Chief Minister’s Office (CMO), the Chief Minister urged HUDCO to consider offering loans at reduced rates for the construction of landmark projects including Bharat Future City, Hyderabad Metro Rail extension, Regional Ring Road (RRR), and Radial Roads.
During the briefing, CM Reddy discussed the construction of greenfield roads extending from Bharat Future City to Chennai via Bangalore and Amaravati, as well as a greenfield highway to Bandar Port and plans for a bullet train. He also raised concerns about loan restructuring and the elevated interest rates on previously acquired loans. The Chairman responded positively regarding addressing the high-interest rate issue, according to the CMO.
Given the rapid development in the state, CM Reddy reiterated the request for lower interest loans for upcoming projects.
Chairman Kulshrestha confirmed that loans have already been sanctioned for Indiramma houses and showed a favorable response to the request for the immediate release of funds for constructing another 10 lakh houses.
On this occasion, CM Reddy also invited the HUDCO Chairman to the Telangana Rising 2047 Global Summit scheduled at Bharat Future City on December 8 and 9.
Other attendees included Revenue Minister Ponguleti Srinivas Reddy, Chief Secretary K. Ramakrishna Rao, Secretary to the CM K.S. Srinivasa Raju, Principal Secretary, Finance, Sandeep Kumar Sultania, Special Chief Secretary Vikas Raj, Housing Department MD Gautam, HUDCO Regional Chief P. Subhash Reddy, and HUDCO Joint General Managers Ashish Gundala and Syed Rahimuddin.
Point of View
It is imperative to recognize the proactive measures being taken by Telangana's administration under CM A. Revanth Reddy's leadership. The request to HUDCO for lower interest loans reflects a strategic approach to sustainable development, ensuring that infrastructure projects are both feasible and beneficial for the state's residents and economy.
NationPress
01/12/2025
Frequently Asked Questions
What projects are included in the CM's appeal for HUDCO loans?
The projects include Bharat Future City, Hyderabad Metro Rail extension, Regional Ring Road, and Radial Roads.
What was the response from HUDCO Chairman regarding the loan request?
HUDCO Chairman Sanjay Kulshrestha responded positively and indicated that the issue of high interest rates would be addressed.
When is the Telangana Rising 2047 Global Summit scheduled?
The summit is scheduled for December 8 and 9 at Bharat Future City.
