HYDERABAD: In a financial boost to the Telangana irrigation projects, the Power Finance Corporation (PFC) has agreed to provide Rs 30,000crore financial assistance to the state of Telangana. The amount will be utilized for electro-mechanical works of Kaleshwaram and Palamuru-Ranga Reddy Lift Irrigation Projects.
Telangana chief secretary SK Joshi, Telangana Genco and Transco chairman and managing director D Prabhakar Rao and principal secretary (Finance) K Ramakrishna Rao met PFC chairman Rajiv Sharma in New Delhi on Friday and sought financial assistance for the Telangana projects.
According to Chief Minister’s Office (CMO), the PFC after taking in account Telangana’s GSDP, state revenue growth rate, financial discipline and repayment capacity into consideration, agreed to pay Rs 30,000crore to the Telangana projects. The PFC had earlier funded the irrigation projects and power utilities for taking up works in the state.
