Funds for Welfare to Be Raised Through Social Stock Exchange: Sridhar Babu
Karimnagar: IT and industries minister D. Sridhar Babu said the state government intended to raise funds for several welfare schemes by adopting the social stock exchange method framed by the Securities and Exchange Board of India (Sebi).
The social stock exchange is a method to raise funds through the stock market for meeting social welfare targets, Sridhar Babu said.
Sridhar Babu was speaking a meeting with officials on measures to mop up funds from big industries and business groups as per Reserve Bank of India and Sebi rules and regulations.
Representatives from Equippp Desi, a fundraising company, and the National Stock Exchange, and secretaries of the government took part in the meeting.
Speaking in Karimnagar, Sridhar Babu said the crop loan waiver had blown away the minds of the Opposition. “The Congress will never retreat from its poll promises,” Sridhar Babu said.
With ministers Ponnam Prabhakar and Tummala Nageswara Rao, Sridhar Babu participated in developmental programmes during their visit to Karimnagar district on Friday.
The ministers inaugurated a primary health centre in Kolanur village and laid foundation stones for laying of road from Kothapally to Kulanoor villages in Odela Mandal and establishment of a palm oil factory in Peddaratpally village of Sri Rampur Mandal in Peddapalli district.
Sridhar Babu alleged that for past seven months, the Opposition was creating hurdles for every work taken up by the government.
He alleged former BRS minister K.T.Rama Rao and Union minister Bandi Sanjay Kumar were spreading lies among people pertaining to loan waiver.
He thanked the management of Tirumala Oil cum India Private Limited for agreeing to establish the palm oil factory at a cost of Rs 170 crore. The factory will provide jobs directly to around 250 youths and indirectly to 500 people of all ages, he added.
Minister Prabhakar said unlike in other states, the Congress government had waived crop loans up to Rs 2 lakh.
