Friday, Nov 26, 2004
Friday, Nov 26, 2004 |
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Advts: Classifieds | Employment | Andhra Pradesh
By Our Special Correspondent
HYDERABAD, NOV. 25. Finance Ministers of states will meet the Prime Minister, Manmohan Singh, in a delegation on November 30 seeking assistance from the Centre for reducing their debt burden. The State Finance Minister, K. Rosaiah, who is taking the lead, told reporters here on Thursday that they had come to this decision in the light of the burden reaching high levels requiring heavy payment towards debt servicing. He said the issue was also put before the 11th Finance Commission. The Commission was expected to submit its report shortly. Mr. Rosaiah estimated the State's outstanding loans, including those obtained from World Bank, at Rs. 57,151 crores as compared to Rs. 11,671 crores during 1956-1994. The burden on debt servicing reached Rs. 8,443 crores yearly now as against Rs. 1,034 crores during 1956-94. The Chandrababu Naidu Government was responsible for this quantum jump as Rs. 45,480 crores of loan could be attributed to him. Mr Rosaiah came down heavily on the TDP president for his demand for a judicial inquiry into irrigation tenders.
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