Mah Govt receives Rs 3,500 cr from Centre

Pune, Oct 18: Maharashtra cooperation minister Patangrao Kadam said the state government had received Rs 3,500 crore from the Central government so far under the loan waiver scheme. Mr Kadam said of the total amount, Rs 2,500 crore were for the co-operative banks and Rs 1,000 crore for commercial banks.

He said due to poor monsoon, the sugarcane production will be 30 per cent less than the last year's during this crushing season.

On the sick units in the state, he said the government will either give them on lease or sell them on the condition of not relocating. The co-operative sector factories will get first priority for it, he said.

Commenting on the crisis in the state's urban banks, Mr Kadam said the Reserve Bank of India had formed a four-member task force to look into the matter.

The government would sign a memorandum of understanding with private players to co-generate electricity within a week, which will add 77 Mega Watts of electricity in the state.

He said five co-operative sugar factories have been selected for this purpose.

Mr Kadam said the state government would make the existing private money lender act more stringent by amending it. The government has appointed Goyal Committee to improve the functioning of credits society, he added.

UNI