Revanth Reddy seeks FRBM exemption for Telangana’s education loans

Chief Minister Revanth Reddy has appealed to the Union Finance Minister to exempt SPC loans for 105 Young India Integrated Residential Schools from FRBM limits. He also requested an IIM for Hyderabad and new Kendriya Vidyalayas and Navodaya schools across Telangana

Hyderabad: Chief Minister A Revanth Reddy on Tuesday appealed to Union Finance Minister Nirmala Sitharaman to exempt loans raised through the Special Purpose Centre (SPC) for establishing integrated residential schools, from the Fiscal Responsibility and Budget Management (FRBM) limits.

The Chief Minister informed the Union Minister that construction of 105 Young India Integrated Residential Schools would require Rs 21,000 crore. Another Rs 9,000 crore would be spent on providing modern labs and other infrastructure in junior, degree, technical colleges, and other higher education institutions in the State, he said.

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“A total of Rs 30,000 crore is required for comprehensive development of the education sector in Telangana,” he said during a meeting in New Delhi on Tuesday.

The Chief Minister also urged Union Education Minister Dharmendra Pradhan to sanction an Indian Institute of Management (IIM) for Hyderabad and set up Kendriya Vidyalayas and Navodaya schools in identified areas across Telangana.