Puduchery govt seeks Rs 350 cr NABARD loan for infra projects

The Puducherry government has sought Rs 350 crore from the National Bank for Agriculture and Rural Development (NABARD) for infrastructure development work, including construction of rural roads, school buildings, storm water canals and augmentatation of drinking water supply.

Public Works Department Minister M O H F Shahjahan said these projects would be taken up exclusively in villages in Puducherry, Karaikal and other outlying regions. Of the total amount, Rs 120 crore would be spent in Karaikal region (an enclave of Puducherry). The loan would carry six per cent interest per annum.

He said a detailed project report had been sent to NABARD. "The amount would be available by January 2010," he said. Shahjahan, also in charge of Collegiate and Technical Education, said the Centre had approved a proposal for a women's polytechnic college in Sultanpet near here and an Arts and Science college in Karaikal.

He said a National Institute of Technology (NIT) sanctioned by the Human Resources Development Ministry would be set up in Karaikal. The site had already been selected, he said, adding that 250 acres needed for NIT would be acquired under emergency provisions in Land Acquisition Act.