Wednesday, Jun 22, 2005
Wednesday, Jun 22, 2005 |
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Advts: Classifieds | Employment | Karnataka
Staff Reporter
BANGALORE: The World Bank has promised to release soon $250 million (Rs. 1,125 crores) loan to Karnataka as part of the second instalment of the $1.1 billion loan for the State's economic restructuring plan. Making the announcement after presenting a review of ongoing works to the World Bank team, headed by its India Director, Michael Carter, here on Tuesday, the Deputy Chief Minister, Siddaramiah, said that the State's initiatives in fiscal reforms and restructuring have been appreciated by the World Bank. He said the team felt that the progress on the Rs. 2,030-crore Karnataka State Highways Improvement Project, funded by the World Bank, is particularly noteworthy. This means that the second phase of KSHIP, estimated at Rs. 3,000 crores, will be taken up soon. However, Mr. Carter has indicated that other projects should be completed at the earliest. These include the Rs. 670-crore Community-based Tank Development Programme, the Rs. 690-crore Watershed Development Programme, and the Rs. 1,030-crore Karnataka Urban Water Supply and Sanitation Sector Improvement Project. The World Bank team also indicated that with economic reform measures in place there is no reason to continue funding the programme. The investment scenario in the State is an indicator of the successful implementation of the restructuring, though the State Government is yet to meet the conditionality on energy audit.
Subsidy
The question of subsidy and free power for farmers is also a ticklish issue, the team said. "We are beginning to comply with the energy audit requirements, but I have made it clear that we are in no position to do away with it," Mr. Siddaramaiah said. Among the ongoing projects where the State has shown better performance than the national average, the rural water supply and sanitation project needs to perform better. The World Bank team has taken note of Karnataka Land Army Corporation officials being reluctant to accept tender applications for gram panchayat works.
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