In a significant move to boost infrastructure development, Telangana Chief Minister A Revanth Reddy has formally requested the Housing and Urban Development Corporation (Hudco) to provide loans at reduced interest rates for the state's flagship projects. The appeal was made during a meeting with Hudco Chairman Sanjay Kulshrestha at the CM's residence on Monday.
Key Projects Seeking Financial Support
The Chief Minister outlined several high-priority initiatives requiring financial backing from the central government undertaking. The proposed Bharat Future City on the outskirts of Hyderabad emerged as a central focus of the discussion. Other critical projects highlighted include the expansion of the Hyderabad Metro Rail network, the ongoing Indiramma housing programme for the underprivileged, and the development of the Regional Ring Road along with radial road networks.
Revanth Reddy also provided detailed briefings on upcoming greenfield road connectivity plans. These ambitious projects aim to link the Future City to Chennai via Bengaluru and Amaravati. Additionally, discussions covered a proposed new highway to the Machilipatnam port and the planned bullet train corridor, underscoring the state's vision for enhanced multi-modal connectivity.
Addressing Past Loan Burden and Positive Response
A crucial part of the dialogue involved the Chief Minister flagging the issue of loan restructuring for existing high-interest debts incurred by the previous BRS government. He emphasized the need to alleviate the state's current interest burden to free up resources for new development work.
According to the Chief Minister's Office (CMO), Chairman Sanjay Kulshrestha responded positively to the request for a review of these high-interest loans. Kulshrestha confirmed that Hudco had already sanctioned loans for the Indiramma housing scheme and agreed to expedite the release of funds for an additional 10 lakh houses under the programme.
Invitation to the Telangana Rising Global Summit
Looking ahead, Chief Minister Revanth Reddy extended a formal invitation to the Hudco chairman to attend the Telangana Rising Global Summit. This major event is scheduled to be held at the Future City site on December 8 and 9. The summit is expected to showcase Telangana's investment potential and developmental roadmap to a global audience.
This high-level meeting signals the state government's proactive approach to securing favourable financing for its transformative infrastructure agenda, aiming to accelerate growth while managing fiscal health.
