Revanth Reddy seeks FRBM exemption for Rs 30,000 crore Young India schools project
Chief Minister A. Revanth Reddy has formally requested Union Finance Minister Nirmala Sitharaman to exempt a Rs. 30,000 crore loan from Telangana’s FRBM ceiling to finance the Young India Integrated Residential Schools initiative. The state plans to build 105 modern residential schools, one per Assembly constituency, targeting BC, SC, ST, and minority students and accommodating 2.7 lakh students.
Hyderabad: Chief Minister A Revanth Reddy appealed to Union Finance Minister Nirmala Sitharaman to exempt a Rs 30,000 crore loan from the FRBM limit to fund the construction of Young India Integrated Residential Schools across Telangana. He also urged the Centre to allow loan restructuring, citing the financial burden caused by existing loans.
During a meeting in Delhi on Tuesday, the Chief Minister said 105 schools were being set up, one in each Assembly constituency, aimed at providing corporate-style education for BC, SC, ST and minority students, who make up nearly 90 per cent of the State’s population. Each school would accommodate 2,560 students, benefiting 2.7 lakh students in total. Construction had begun in four schools, while tenders for the remaining have been finalised.
He said the construction of schools would be taken up with Rs 21,000 crore, while another Rs 9,000 crore would be spent on modernising other higher education institutions. He sought permission to constitute a special corporation to mobilise funds in this regard.
According to officials, the Union Minister responded positively.
