The Hindu : Andhra Pradesh News : Government claims revenue surplus

Online edition of India's National Newspaper
Friday, Oct 15, 2004

Andhra Pradesh

Andhra Pradesh

Government claims revenue surplus

By Our Staff Reporter

HYDERABAD, OCT. 14. The five-month old Congress Government has claimed that the State's finances have considerably improved with a revenue surplus of Rs. 1,704 crores as against a revenue deficit of Rs. 1,200 crores during the same period last year.

The Government also recorded a fiscal surplus of Rs. 1,308 crores as against a deficit of Rs. 3,055 crores last year. The Government has said that it has not knocked at the doors of the Reserve Bank of India during the last five months seeking overdraft which shows that the fiscal management has yielded results, according to the Minister for Finance, K. Rosaiah.

`On recovery path'

Speaking to reporters here on Thursday on completion of five-months of the Congress Government, Mr. Rosaiah and his Cabinet colleagues -- Dharmana Prasada Rao (Revenue), Redya Naik (Social Welfare) and Md. Ali Shabbeer (Information and Public Relations) -- said the financial status of the State had shown a path of recovery with the State revenue growth recording 18.69 per cent during April and September this year.

Earnings up

The revenue earnings during this period was Rs. 7,432 crores when compared to Rs. 6,200 crores during the same period last year under the TDP Government. The additional revenue earned by the Government was Rs. 1,172 crores in the last five months. This had been made possible by plugging leakages and other measures. The Government also earned additional revenue of Rs. 531 crores by way of its share from the central taxes.

Record outlay

Stating that the Government was committed to the welfare of the downtrodden, the Ministers said that irrigation sector had received a big boost with a record outlay of Rs. 4,246 crores for irrigation projects this year. During the same period, the previous Government had allocated only Rs. 1,764 crores, they pointed out.

Referring to `bhoomi pooja' for Pulichintala slated for Friday, they maintained that it was only a balancing reservoir. They allayed the fears that additional ayacut under delta would be brought under cultivation depriving farmers of other regions of Krishna water.

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