ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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NEW DELHI- No Money for Development Projects

NEW DELHI No Money for Development Projects B M THE Secretary in the Ministry of Petroleum and Chemicals, heading the Department of Chemicals, last week called journalists to a special briefing to take the Press into confidence on the snags that have developed in the implementation of the high priority fertiliser programme. The stunning disclosure that he made on the occasion was that it was no longer the availability of foreign credits which now stood in the way of launching fertiliser projects. The real hurdle was the paucity of rupee resources. The Finance Ministry had made it clear that it was unable to provide funds for the Para- dip fertiliser project for which French credits to cover the foreign exchange cost had already been arranged, The beginning of work on the project will, therefore, have to be postponed till April next. The mention of April in this case, as also in several other cases, is a camouflage; it merely means that the question will be considered when the next year's budget is framed.

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