• search

Oppn attacks Govt on WB loan

Written by: Staff
Subscribe to Oneindia News

Hyderabad, Oct 24 (UNI) Close on the heels of World Bank Managing Director Greame Wheeler announcing a one billion US dollar assistance to Andhra Pradesh, the opposition TDP and the Left parties today strongly criticised the Congress Government for taking loans accepting ''conditionalities''.

While CPI state unit Secretary K Narayana and CPI(M) State Secretary B V Raghavulu claimed that the lending institutions had imposed conditions detrimental to the state's interest, TDP President N Chandrababu Naidu alleged ''no bank will advance loans without conditions.'' The Congress, which had opposed the World Bank loans while in opposition, owed an explanation to the people on the basis it was taking loans now, Mr Naidu told reporters here.

The party had constituted a Committee to finalise the party's strategy in consultation with leading economists to ensure that the benefits of economic reforms reached the poor, the TDP supremo added.

Mr Narayana claimed that the Bank's conditionalities would push the state's agrarian economy into a deeper crisis and deprive the social sector inlcuding health and education, of funds.

He accused the ruling Congress of going back on its ''poll promises''.

The CPI leader threatened to launch agitations to paralyze the Government's functioning if it implemented World Bank ''conditionalities'', deterimental to the interests of the working class.

UNI SM VV RR BS1728

For Breaking News from Oneindia
Get instant news updates throughout the day.

X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more