Kaleshwaram Project : Kaleshwaram.. is really an ATM for them.. Sensational things in the CAG report! | Telugu News

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The CAG found that the Kaleshwaram project has put the Telangana government in debt by spending heavily without estimating the results of the project. The CAG revealed sensational facts that it was converted into an ATM and distributed to the monopolists.

Kaleshwaram Project : Kaleshwaram.. is really an ATM for them.. Sensational things in the CAG report!

Kaleshwaram Project: The CAG said in its report that the Kaleshwaram project built by the previous government on the Godavari river has really become like an ATM for them. An audit conducted by the Comptroller and Auditor General (CAG) last year mentioned some interesting points. According to the guidelines of the Union Ministry of Water Power, an irrigation project should be constructed only if the benefit cost ratio is 1.5 in general areas. Only then will it be profitable and beneficial. For every rupee spent on the project, there should be a rupee and a half of benefit. But, in 2017, KCR Sarkar designed the Kaleshwaram project through re-engineering and submitted it to the Central Water Corporation. It said that the Comprehensive Project Report (DPR) approved in June 2018 showed that the benefit cost ratio would be 1.51. However, the CAG audit analysis in 2022 underestimated the annual costs and overestimated the expected annual benefits from the project. The CAG has found that the benefit cost ratio has also been inflated. Kaleswaram's BRC is only 0.52 considering the annual costs including capital, operation and maintenance costs, power consumption costs, civil works, pumps/motors and depreciation on pipelines, the CAG said in its report.

The benefit is only life-saving animals..

In 2007, the Congress government in the United States designed this project to irrigate 1.64 lakh acres under the name Pranahita-Chevella Sujala Sravanti (PCSS) at an estimated cost of Rs.38,500 crore. But the KCR government has redesigned it as Kaleswaram and created a new command area of ​​18.25 million acres and aims to stabilize another 4,70,000 acres. As a result, the cost of the project has increased to Rs.85,596.58 crores. But, with the redesign, the target command area increased by 52.22 percent. The cost of the project has increased by 122 percent. The CAG has explained that more additions and changes have been made in the scope of the project works, as a result of which the cost of the project will increase to Rs.1.49 lakh crore.

Huge debts

The CAG revealed that the previous government incurred huge debts to complete the Kaleshwaram project. Kaleswaram Irrigation Project Corporation Limited (KIPCL) was formed in August 2016 to raise funds for the Kaleswaram project. By March 2022, KIPCL has entered into 15 loan agreements with banks and other financial institutions for a total loan amount of Rs.87,449.15 crore. This includes interest amount of Rs.11,220.22 crore during construction. The CAG said in its report that interest on these loans ranges from 7.8 percent to 10.9 percent. As per the repayment schedules incorporated in the respective loan agreements, these loans are to be repaid in 48 quarterly or 144 monthly installments over 12 years.

Ignoring KIPCL..

As per the government orders issued during the formation of KIPCL, the state government should see to it that the corporation generates substantial revenue with dedication to repay the loans. But, after the loans came, the government ignored it. The CAG revealed that since KIPCL had no source of income, the burden of paying these loans and interest on them ultimately fell on the state government.

The annual burden is Rs.14,426 crore.

The CAG said that the government will have to bear a burden of Rs 14,462 crore annually to repay the loans raised due to the Kaleswaram project. Apart from these, another Rs.10,374 crore electricity charges, operation and maintenance charges of Rs.272 crores are added for the maintenance of lifts. It is said that the project will be completed and fully accessible by 2024-25, and in the coming years, Rs.25,109,41 crores will be required for the maintenance of the Kaleshwaram project including debts. CAG said. It said that if the government is to bear this burden, it will have to make huge allocations for the irrigation sector in the annual budgets.

Allocations are more..

The CAG said that in the past six years, the budget allocation for the Kaleswaram project has ranged from Rs.1,382 crore to a maximum of Rs.5,072 crore. It found that the amount allocated in six years was Rs.27,137 crore, of which only Rs.18,659 crore was spent. CAG said the government has not spent even the allocated budget.

The CAG found that the Kaleshwaram project has put the Telangana government in debt by spending heavily without estimating the results of the project. The CAG revealed sensational facts that it was converted into an ATM and distributed to the monopolists.

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