KCR defends his Govt raising loans for projects

Telangana Chief Minister K Chandrashekar Rao has defended his government taking loans for developmental projects. Dismissing the opposition’s criticism on loans, he said there is a lot of difference between “a government taking a loan and a private entity taking a loan”.

“Where and how you are using the loans you raised holds the key. It is part of pooling up resources by the government,” he said. “We have asked the Chief Secretary and Finance Secretary to raise funds for the Kaleshwaram project,” he said.

Replying to a question in the State Assembly on Saturday, he said a State has to follow certain statutory norms before going for a loan. “You need to conform to various norms. We (the States) don’t have autonomy (to do so). The Centre controls the broad fiscal policy,” he said.