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Will this project cause a strain on the economy

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Posted (edited)

Looks like some investment maybe hit

 

http://www.newindianexpress.com/states/andhra-pradesh/2019/jul/20/world-bank-dropped-amaravati-loan-at-centres-behest-2006758.html

 

VIJAYAWADA: A day after the World Bank ‘dropped’ $300 mn loan for Amaravati, it has come to light that the decision was taken following a communication from the Central government earlier this week.
 
 
 
World Bank Senior Communications Officer (South Asia) Elena Karaban told TNIE, “Earlier this week, the Government of India has withdrawn its request to the World Bank for financing the proposed Amaravati Sustainable Infrastructure and Institutional Development Project. The World Bank’s Board of Executive Directors has been informed that the proposed project is no longer under preparation following the government’s decision.”
 
 
 
The World Bank representative did not reveal if the Indian government cited any reason for withdrawing the loan request. The lending agency generally accepts the decision of the member state if the latter wants to withdraw loan application for a project. The Department of Economic Affairs (DEA), Ministry of Finance, deals with projects related to World Bank financing. 
 
 
The World Bank’s decision has come as a shocker to the Andhra Pradesh Capital Region Development Authority (APCRDA), which hasn’t received any communication from the DEA. Sources said officials from the authority had a meeting with World Bank representatives just a few days ago, but nothing was informed even then.
 
 
 
For the record, the previous TDP regime, in 2016, through the Centre, sought a loan of $500 mn to construct Amaravati under Externally Aided Project (EAP) programme. However, the application was put on hold following letters from a few farmers in the capital region in May, 2017, who alleged widespread irregularities in land procurement.
 
The World Bank reportedly wanted to dig deeper and the same was communicated to the State government earlier this year. With the change of guard, the State officials, through the DEA, reportedly sought time to consider the lending agency’s request. However, the Centre, it is learnt, wasn’t keen on a probe by an international agency, prompting it to withdraw its loan request. For processing the loan, the World Bank needs a sovereign guarantee from the Centre. 
 
The World Bank pulling out of the deal triggered a blame game between the YSRC and the Opposition TDP. While TDP supremo N Chandrababu Naidu, under whose leadership the loan was sought, held the YSRC government responsible for the World Bank backing out of the commitment, the ruling party leaders claimed that ‘irregularities’ committed during the TDP’s rule were the reason.
 
 
 
Speaking to a news channel, YSRC MP and the State’s Special Representative in New Delhi V Vijayasai Reddy said the World Bank wanted to send a team to investigate complaints by farmers from Amaravati alleging irregularities in land procurement. He was quoted as saying that if a probe was needed, the State government would conduct it and that the State government was against probe by a foreign agency.
 
 
 
From his remarks, it appears that both the Centre and the Jagan government are on the same page. Nonetheless, the Centre hasn’t cleared the air yet.
 
 
 
TDP chief Chandrababu Naidu, in an informal chat with reporters in the Assembly lobby on Friday, remarked, “Who instigated the farmers to complain? Wasn’t it YSRC? The present government is responsible for the bank backing out.” The TDP also moved an adjournment motion for a debate on Amaravati in the Assembly, but the Speaker rejected it.
 
 
 
YSRC Chief Whip G Srikanth Reddy quickly hit back at Naidu saying that the TDP was carrying on a false propaganda. “The TDP committed atrocities and irregularities in the name of land pooling. This prompted the farmers to write letter to the World Bank. The same has been confirmed by the Working Group on International Financial Institutions as well,” he said at the Assembly’s media point.
 

 

Edited by Sdf4786k
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Cpf withdrawal extend lo

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Posted (edited)

Cpf withdrawal extend lo

actually mathematically they can engineer the CPF and investment till it shows a positive return, just have to channel more COE, ERP money from LTA into the fund, how would we know ? 

Edited by Ct3833
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Thinking aloud.

 

Could this be Indian govt showing displeasure at the ceca agreement?

Specifically they have complained that Singapore did not allow even more ceca to come here.

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Thinking aloud.

 

Could this be Indian govt showing displeasure at the ceca agreement?

Specifically they have complained that Singapore did not allow even more ceca to come here.

Highly likely
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Highly likely

Then for once.. let deft true see that I support govt this time.

 

But still.. no need to PM.

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Then for once.. let deft true see that I support govt this time.

 

But still.. no need to PM.

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chey...u dun like his daily sermon meh?

Thank Odin

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Posted (edited)

Then for once.. let deft true see that I support govt this time.

 

But still.. no need to PM.

Edited by Sdf4786k

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Posted (edited)

You may want to retink that...

 

@hydrocarbon

 

Click bait would be this

 

https://www.theonlinecitizen.com/2019/08/14/modis-govt-withdraws-request-to-world-bank-to-support-temasek-led-amaravati-capital-project/

 

Modiâs govt withdraws request to World Bank to support Temasek-led Amaravati capital project

 

But as there is no report from india on the collaboration it could be misleading...

 

Thanks for the 5 dislike

Wait.... I am confused..

 

I did not send any dislike thou you before leh..

Edited by Playtime

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Posted (edited)

Is it because of how Tamasek payment is managed?

https://www.channelnewsasia.com/news/singapore/national-gallery-no-fraud-waivers-of-contractual-provisions-11781922

'No fraud involved' in S$13m waivers of contractual provisions for National Gallery project: Grace Fu

 

Overpaid contractors and said it's not corruption. 13mil machiam lose change. Modi see liao balls shrink. Withdraw lo.

Edited by Watwheels

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Wait.... I am confused..

 

I did not send any dislike thou you before leh..

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Cpf withdrawal extend lo

 

not so drastic lah...

 

Probably PR CPF contribution increase ?

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Looks like some investment maybe hit

 

 

300m will strain our economy?

 

Please... that's not even one YOG. We can afford to piss away several more YOGs.

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Posted (edited)

300m will strain our economy?

 

Please... that's not even one YOG. We can afford to piss away several more YOGs.

3 COE bidding exercise can FULL CASH liao ... muahahahaha 

Edited by Wt_know
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300m will strain our economy?

 

Please... that's not even one YOG. We can afford to piss away several more YOGs.

 

not when your expected rate of returns is a few billion dollars..

 

:mellow:

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Is it because of how Tamasek payment is managed?

https://www.channelnewsasia.com/news/singapore/national-gallery-no-fraud-waivers-of-contractual-provisions-11781922

'No fraud involved' in S$13m waivers of contractual provisions for National Gallery project: Grace Fu

 

Overpaid contractors and said it's not corruption. 13mil machiam lose change. Modi see liao balls shrink. Withdraw lo.

 

should hand it over to the boyz at EDMW to dig out any kawan kawan or hanky panky involved.

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