Jayalalithaa On Rural Loans

As part of its measures to bail out the debt-ridden state electricity board, Tamil Nadu Government on Sunday announced a package, including absorbing 50 per cent of its short and medium term loans to the tune of Rs 9,529 crore and sanctioning Rs 1,000 crore as advance subsidy.

Tamil Nadu Chief Minister J Jayalalithaa has opposed the revision of interest rate for the Rural Infrastructure Development Fund (RIDF), saying that the Reserve Bank of India's (RBI) move will force states to reduce investment in this area, which is vital for inclusive development.

As part of its measures to bail out the debt-ridden state electricity board, Tamil Nadu Government on Sunday announced a package, including absorbing 50 per cent of its short and medium term loans to the tune of Rs 9,529 crore and sanctioning Rs 1,000 crore as advance subsidy.

Tamil Nadu Chief Minister J Jayalalithaa has opposed the revision of interest rate for the Rural Infrastructure Development Fund (RIDF), saying that the Reserve Bank of India's (RBI) move will force states to reduce investment in this area, which is vital for inclusive development.