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Who Shall Repay The Loan?

Who Shall Repay The Loan?

Union Minister Uma Bharati said in Parliament that the expenditure incurred on Polavaram since 2014 only will be reimbursed by the Centre.

She also made it clear that any expenditure incurred over the estimate provided by the State government will not be reimbursed and that funding for Polavaram would be provided through NABARD.

In 2011, the cost of Polavaram was estimated at Rs 16,000 crore. In 2014, after becoming Chief Minister, Naidu revised it to Rs 40,000 crore. So, which estimate is Uma Bharati referring to?

And what is this announcement that Polavaram funding would be arranged through NABARD?

Once declared a national project, it is the Central government’s responsibility to provide complete funding for the project whether it is through LIC, NABARD or any other body.

If funds are provided through NABARD via a loan agreement, who shall the agreement be with? The Centre or AP? If AP signs the agreement, would it not be expected to repay the loan? There is no clarity lacing on such an important issue.

Can we expect the Chief Minister to come clean on the whole episode?

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Tags: Chandrababu Naidu Polavaram Uma Bharathi