The Hindu : Andhra Pradesh / Hyderabad News : State to get Rs. 1,500 crores

Online edition of India's National Newspaper
Thursday, Jun 30, 2005

Andhra Pradesh

Andhra Pradesh - Hyderabad

State to get Rs. 1,500 crores

Fiscal discipline measures to cut down revenue expenditure

HYDERABAD: The State is likely to get Rs. 1,500 crores as fallout of the fiscal discipline measures launched and implemented.

On his return from New Delhi on Wednesday where he attended the National Development Council and Inter-State Council meetings, the Chief Minister, Y. S. Rajasekhara Reddy, told reporters that the State's revenue deficit which was of the order of Rs. 3,300 crores in 2003-04, had come down to Rs 2,000 crores last year. This was expected to plummet further, saving a huge sum for the exchequer.

The measures would cut down revenue expenditure and make funds available for development.

Maharashtra, Gujarat and to some extent Karnataka had achieved surplus in their budgets. Andhra Pradesh would shortly achieve this, he said.

The Chief Minister regretted that a third of the budget was going towards interest payment and debt-servicing and another third towards salaries of the employees, while the remaining third was used for general maintenance of the system, subsidies, scholarships etc.

No rollbacks

Answering questions, Dr. Reddy ruled out rollback of sales tax on petrol and diesel in the State, saying the hike was `very little.'

The Chief Minister hoped that the APSRTC strike would not take place as a way out would be worked out. "The best package has been offered to the undertaking."

He hailed the timely intervention of the High Court regarding the stir by junior doctors.

The Government was ready to settle their problems, he said.

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