The Hindu : Andhra Pradesh News : TDP reiterates opposition to council revival

Online edition of India's National Newspaper
Wednesday, May 19, 2004

Andhra Pradesh

Andhra Pradesh

TDP reiterates opposition to council revival

By Our Special Correspondent

HYDERABAD, MAY 18. The Telugu Desam has reiterated its opposition to the revival of the Legislative Council, saying it would be a burden on the exchequer and would not serve any useful purpose.

Talking to reporters, TDP's spokesperson, C. Ramachandraiah, said his party would oppose the resolution when introduced in the State Assembly.

The Chief Minister, Y.S. Rajasekhara Reddy, has declared that the resolution will be introduced in the very first session of the 12th Assembly when it is convened later this month.

Referring to the biggest ever fall of the stock indices due to the prevailing political uncertainty at the Centre, the TDP leader said that it was a result of the perception among people that the new Government would be controlled by the leftists, "who are anti-reform." The apprehensions among the investors had led to the selling frenzy. He said the Sensex was linked to reforms and it would be difficult to get investments without implementing reforms.

He said the free fall would have a huge impact on the economy at both the macro and micro-levels. At the macro level, it would have an effect on the inflation and cost of imports, while the net worth of small investors would go down at the micro-level.

Replying to a question, he said the TDP would continue to maintain good relations with the BJP and be part of the NDA.

Printer friendly page
Send this article to Friends by E-Mail

Andhra Pradesh