The Hindu : Andhra Pradesh News : Good budget, given the constraints: YSR

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Thursday, Jun 24, 2004

Andhra Pradesh

Andhra Pradesh

Good budget, given the constraints: YSR

By Our Special Correspondent

HYDERABAD, JUNE 23. The Chief Minister, Y. S. Rajasekhara Reddy, on Wednesday said given the "major fiscal constraints" his Government had inherited, he was quite happy with the budget for 2004-05 presented by the Finance Minister, K. Rosaiah, in the Assembly.

Speaking to reporters, Dr. Reddy said like in 1989, the Congress was saddled with the task of re-railing the State's finances. "This is our first budget. The next one will be aimed at improving productivity and heralding all-round development."

The Chief Minister said the main feature of the budget was the massive hike of Rs. 4200 crores in the outlay for works in the irrigation sector, and Rs. 400 crores for agriculture. These allocations do not take establishment expenditure into account.

Describing the budget as "creative and innovative," Dr. Reddy said it had taken care of quite a few election promises made by the Congress, mainly the earmarking of Rs. 437 crores for supply of free power to farmers and the construction of six lakh houses for weaker sections. He said this number would be stepped up by 1 lakh every year.

Mr. Reddy reaffirmed his Government's commitment to "reforms with a human face." Asked how he planned to raise funds for implementing his programmes, he replied, "By practicing fiscal prudence."

"Mr. Rosaiah had presented a surplus budget of Rs. 232 crores a decade ago. We will do it again in the coming years," he said.

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