Updated By: LatestGKGS Desk
Shirdi trust lends Rs 500 crore interest free loan to Maharashtra Government
Shirdi trust lends Rs 500 crore interest-free loan to Maharashtra Government: Details, Purpose, Highlights
In a bid to meet the struggles of cash problem of Maharashtra government for a long time, the Shirdi Saibaba Temple Trust has agreed to lend a loan of Rs 500 Crores for completing pending irrigation projects.
The Shirdi Temple Trust will provide this loan without any interest or time limit.
This loan will be used to complete the pending works of the Nilwande irrigation project to meet the drinking water needs of most areas in Ahmednagar district of Maharastra state.
This loan will ease the burden of Chief Minister, Devendra Fadnavis led government. The Shirdi trust will release Rs 500 crore for the irrigation project worth Rs 1200 crore.
The proposal was cleared in a meeting chaired by Fadnavis on 1st February 2018, and the order to release the funds in two tranches was given on 1st Dec 2018.
As per the report, the Saibaba Temple Trust and Godavari-Marathwada Irrigation Development have also signed a Memorandum of Understanding (MoU) for the same thing.
Maharashtra (India)
Statehood: 1st May 1960 (Maharashtra Day)
Capitals: Mumbai & Nagpur
Districts: 36
Official Language: Marathi
Governor: C. Vidyasagar Rao
Chief Minister: Devendra Fadnavi
