BABU urged not to politicise 'interest'

Rural Development Minister Vatti Vasantha Kumar on Saturday urged Telugu Desam Party president N Chandrababu Naidu not to ‘fish in troubled waters,’ and magnify the issue of the interest charged by MFIs with malafide intentions.

In doing so, Mr Naidu is complicating the issue, seen as being detrimental to the interests of over a crore poor women beneficiaries in the districts, he said.

Talking to media persons at the Secretariat, Mr Vasanth Kumar said "let us not fish in troubled waters."

He appealed to Mr Naidu not to drag the issue for political ends and not to make the poor as scapegoats thereby affecting a big scheme.

 Sating that the government was vigilant on the issue, the Minister attempted to expose Mr Naidu’s ignorance on the subject.

The Rural Development Minister pointed out that while Mr Naidu was chief minister for more than nine years, he was pretending to be unaware of the act connected to finance matters. He also pointed out that unless the Finance Bill is passed and ratified by the Parliament nothing can be done.

 Reacting to the alleged comments by Mr Naidu that there was no proper control over the interest rate, the Minister reiterated that there was a limit and framework within which the state has to function in respect of a Finance rule.

Mr Vasantha Kumar categorically informed that following the promulgation of the Ordinance, it was welcomed from all quarters in the state except from the opposition leaders.