The Hindu : State's reforms lauded, says Yanamala

Online edition of India's National Newspaper
Monday, Dec 01, 2003

Southern States

Southern States - Andhra Pradesh-Hyderabad

State's reforms lauded, says Yanamala

By Our Special Correspondent

HYDERABAD Nov. 30. The Finance Minister, Yanamala Ramakrishnudu, has said that Andhra Pradesh's public sector reform programme has been considered the country's most successful disinvestment scheme among the States.

Outlining various measures initiated by the Government to revive the economy as part of the reforms, the Finance Minister in a statement here said that Andhra Pradesh has been in the forefront of public sector reforms in the country.

He said that 31 public sector units were already restructured and the reform programme was in progress in another 68 undertakings.

He said that the economic reforms and financial situation of the State had witnessed a number of changes in the last eight years during which the Government took various measures to restore the health of the economy. "These include a concerted effort to build human capital, augment infrastructure, increase revenues, attract investment in focussed areas of the economy and decentralise governance.

The State has increased allocations for education and health, and embarked on a programme to achieve universal primary education and strengthen primary health care."

The steps taken to improve finances include rationalising subsidies, reforming tax structure, undertaking power sector reforms and inviting private sector participation in the infrastructure sector.

"The most visible success of the Government's effort to revive the economy is the aggressive policy and action to promote investment in focussed areas. The emergence of the State as a major destination for investment in Information Technology is a case in point," he observed.

He said that A.P.'s GSDP growth rate had increased from 4.43 per cent in 1980-81 to 5.80 per cent during 1993-94 to 2000-01.

The average growth rate of the service sector was 7.18 per cent during 1980-81 to 1992-93 and 7.02 per cent during 2000-01. The revenue performance has progressed well in recent years and the State's own revenue receipts recorded a compounded annual growth rate of 13.5 per cent and tax revenue to GSDP ratio of the State has increased from 5.42 in 199697 to 7.70 in 2001-02.

It is estimated to reach 8 per cent in 2003-04. He said that A.P. has highest growth in tax and non-tax revenues amongst the Southern States.

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