• search

CM refutes WB conditions to loans; offers scrutiny by press

Written by: Staff

Hyderabad, Oct 28 (UNI) Making it clear that no conditions were attached to loans announced by the World Bank to Andhra Pradesh, Chief Minister Y S Rajasekhara Reddy today offered to place all agreements with the World Bank in his office, for scrutiny by the newspersons.

Dr Reddy, who made a mid-term appraisal of his Government's performance in the last two-and-half years, told reporters that his Government was committed to economic reforms. ''Even the Centre is insisting on reforms. There is no question of reversal'', he reiterated.

He denied any secret agreements with the World Bank as alleged by the Left parties.

Initially, the World Bank officials had taken a lot of objections to Government's 'free power' scheme for farmers. ''We have told them, in clear terms, that it is a commitment to farmers to mitigate their distress. Whether they like it or not we will give it'', he added.

Even, World Bank Managing Director Grame Wheeler during an informal interaction wanted to know whether the Government was giving free power to 80 per cent of farmers. ''I corrected saying it is not 80 per cent but 95 per cent of farmers who enjoy the facility'', he affirmed.

Even while providing free power to farmers, the Government was reovced the level of subsidy to the power utilities and ensure that there was no power tariff hike for domestic, commercial and industrial sectors.

The power tariff for industries had been brought down by four per cent on an average, he said.


For Daily Alerts

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

Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings 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