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Tripura govt to take Rs 200 cr loan to overcome financial crunch

Devdiscourse News Desk agartala Last Updated at 07-12-2018 19:04:31 IST India
Tripura govt to take Rs 200 cr loan to overcome financial crunch
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The BJP-IPFT government would take a loan of Rs 200, either from LIC or HUDCO, to overcome severe financial crunch that the former Left Front government has left behind, a minister said on Friday. The former Left Front government had emptied the state's coffers due to unplanned projects are undertaken without the arrangement of funds, state Law Minister Ratan Lal Nath alleged.

"The state cabinet yesterday decided to take a loan of Rs 200 crore from either Housing and Urban Development Corporation or the Life Insurance Corporation of India for now," he told reporters. Nath said, 231 projects are under progress in 21 government departments including school education, higher education, health and family welfare, home, fire, jail, tribal welfare, law, tourism, youth and sports affairs, urban development, science and technology, minority, food and civil supplies, animal resource development, handloom, labour, panchayat and PWD.

"These projects, most of which are buildings and other structures, have a cumulative financial involvement of Rs 1,497.75 crore," he added.

He alleged that the projects were started keeping the February Assembly elections in mind. The Left Front, which ruled Tripura for 25 years since 1993, was defeated by the BJP and IPFT combine in the election this year. "We are trying to get Rs 300.58 crore as Special Plan Assistance (SPA) from the NITI Aayog," the law minister said. He also said that the government has to find ways to gather more funds from different sources to tide over the crisis.

(With inputs from agencies.)

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