State to issue Rs 600-cr bonds for Krishna Valley project

KOLHAPUR, NOV 8: Maharashtra Chief Minister Manohar Joshi today said the State Government would issue Rs 600 crore Krishna Khore Vikas Bon...

KOLHAPUR, NOV 8: Maharashtra Chief Minister Manohar Joshi today said the State Government would issue Rs 600 crore Krishna Khore Vikas Bonds’ by next month to fund the Krishna Valley Development (KVD) project.

Talking to reporters here, Joshi said Maharashtra’s share in the Krishna waters will be lifted and utilised by May 2000. All irrigation projects in the State will also be completed by then, he added.

Earlier, the State Government had issued Rs 700 crore worth Krishna Valley Development Bonds’ at an interest rate of 17 per cent. However, this time, the rate would be 12 per cent, he said. The Chief Minister said his government was considering to change the present crop insurance system.

To a question, he said the Shiv Sena-BJP Government was always in favour of setting up a division bench of Mumbai High Court at Kolhapur. However, the High Court had not given any “green signal” so far, he added.

He said Kolhapur would be declared as a pilgrim centre and added that a regional office of Maharashtra Tourism Development Corporation (MTDC) will be opened in the city soon.