North East

Tripura Cabinet’s gives nod for Rs 200 cr loan

December 06, 2018: Tripura Government has decided to take loans to complete half done works initiated by the previous Left Front Government. The State cabinet has today has given nod to take loan of Rs. 200 crore either from Hudco or Life Insurance Corporation (LIC).

The decision was taken in the cabinet meeting, said Education minister Ratan Lal Nath at civil secretariat.

Briefing media about the cabinet decisions, Nath said, “the previous state government approved various projects aimlessly and without proper planning.

Altogether 231 projects only for building construction under 21 departments excluding Public Works Department (PWD) were approved. Besides, 12 projects of the PWD were also approved.”

Cabinet briefing (video)

He continued, “To complete the works, state government needs around Rs. 1.5 crore. The constructions were stalled due to shortage of fund.”

According to Nath, the state government has to pay Rs. 421.1 crore to contractors for the various building construction works.

“The BJP-IPFT government is now on the move to take loan of Rs. 200 crore to complete the half-done building constructions. Apart from this, the state government is making efforts to get 358 crore from the NITI Aayog,” Nath told the reporters.

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