POONA-Making Water Flow Uphill


Total loan sanctioned by Italy was Rs 153 crores. But for Rs 1.50 crores of non-project aid in this (already used by India to buy fertiliser), the entire loan from Italy is tied to projects and to purchases of capital equipment which takes time to manufacture and deliver. While the unutilised Italian loan is Rs 133 crores, value of orders already placed with Italy is Rs 130 crores.