Revanth urges HUDCO to cut interest rates for Telangana projects

Chief Minister Revanth Reddy asked HUDCO to provide loans at lower interest rates and restructure earlier borrowings. HUDCO assured funds for 10 lakh more Indiramma houses. In a separate review, the Chief Minister warned officials against negligence in Medaram development works

Hyderabad: Chief Minister A Revanth Reddy urged HUDCO Chairman Sanjay Kulshrestha to extend loans at lower interest rates for development projects being taken up by the State government.

Kulshrestha met the Chief Minister in Hyderabad on Monday. During the meeting, Revanth Reddy raised the issue of loan restructuring, stating that the previous government had borrowed at high interest rates. In response, the HUDCO Chairman said loans had already been sanctioned for Indiramma houses and assured that funding would be released for the construction of another 10 lakh houses.

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At a separate review meeting on Medaram works, the Chief Minister warned that strict action would be taken against officials found negligent in their duties. He said tribal culture, tradition and customs should also be accorded priority in the development of Medaram and directed that all works be completed within the stipulated timelines.