The Hindu : Andhra Pradesh News : World Bank lending will continue: YSR

Online edition of India's National Newspaper
Sunday, Jul 04, 2004

Andhra Pradesh

Andhra Pradesh

World Bank lending will continue: YSR

By Our Special Correspondent

HYDERABAD, JULY 3. Admitting that the World Bank was "unhappy" at his Government's policy on free power supply to the farm sector, the Chief Minister, Y. S. Rajasekhara Reddy, on Saturday said it would not come in the way of the Bank extending loans for projects like urban poverty alleviation, irrigation and roads.

Dr. Reddy had a meeting with the Bank's country director, Micheal Carter, here. He told presspersons later that the Bank was, in principle, positive about these projects. In fact, the Bank officials told him that the urban poverty alleviation project was under processing.

Asked if the Bank was imposing any conditions, he said there was no question of accepting any condition that went against the interest of people. He said there was no need for taking the Bank's support for the budget, as fiscal deficit was under control. "They generally spoke about maintaining financial prudence."

To a question, Dr. Reddy said the Union Minister of State for Rural Development, A. Narendra's decision to attend a RSS meeting had indeed caused "ripples" in the Congress and he would look into it.

Contrary to the reports appearing in a section of the press, he said he got the impression that the IT industry was happy. At the NASSCOM meeting held here recently, he had reiterated that all the existing incentives to the sector would continue.

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