The TS government is planning to come up with infra bonds to mobilise funds from NRIS. The Government will offer 10 per cent interest on its infra bonds it is reported.
Minister for IT and NRI minister K.T. Rama Rao said, “I already took up the issue with external aff-airs minister Sushma Swaraj. She responded positively and advised us to approach the Union finance ministry. I will soon meet Arun Jaitely and seek permission to issue infra bonds.”
The government is keen to issue infrastructure bonds to non-resident Indians (NRIs) from Telangana to raise funds for infrastructure projects in the state.
The TRS government has lined up several infra projects in Hyderabad and Tier-II cities like Warangal, Karimnagar, Khammam but these have not moved forward due to paucity of funds.
The TS government wants to tap the savings of NRIs from Telangana by offering attractive interest rates.
For this, it needs to obtain permission from the Centre.
States like Gujarat and Kerala are also seeking Centre’s permission to issue infra bonds to NRIs.
KTR said that of the top five firms in the world, four firms have operations in Hyderabad which is a matter of pride for the city.
The minister said that state government was encouraging manufacturing sector which has also created employment opportunities to youth in the state. Stating that in the days to come the state government would create data analysis in the IT sector.
With regard to the civic amenities in Hyderabad, the minister said that the civic infrastructure, especially the roads were in bad condition and said that the government needs some time to fix the things in order.
Following the remarkable success of the ICT Policy launch in April this year, the department has finalised allied policies on data centres, open data, cyber security and data analytics, taking the count to eight allied (sectoral) policies,” KTR said after unveiling the policies here.
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