The Hindu : Andhra Pradesh News : A.P. Government to sell land allotted by TDP

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Friday, Mar 02, 2007
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Andhra Pradesh

Andhra Pradesh

A.P. Government to sell land allotted by TDP

Special Correspondent

Sale of 850 acres allotted to sports management company

HYDERABAD: Some 850 acres of land allotted by the previous Telugu Desam regime to M/s IMG Bharata, the sports management company, in the State capital will be sold away to raise nearly Rs. 5,000 crore to fund the State's plan for the coming fiscal.

Another Rs. 3,500 crore will be realised through sale of other lands in the city and elsewhere in the State utilised for schemes under the annual plan which has an outlay of Rs. 32, 973 crores. This was announced by Finance Minister K. Rosaiah in the Assembly on Thursday in response to a query by T. Devender Goud (TDP), who wanted to know whether it was proposed to raise Rs. 8,700 crore for the plan by selling away lands.

Accepting a suggestion of K. Pratap Reddy (TRS), Mr. Rosaiah said the proceeds of the lands sold in Telangana would be spent only on projects in the region. The long-awaited regional development boards would be constituted in the first week of April to ensure regional balance.

Replying to the six-day-long debate on the State budget for 2007-08, he denied the Opposition's allegations that there were plans to increase the number of liquor shops in the State.

The Rs. 700-crore increase in Excise revenue was proposed to be achieved by checking smuggling from other States.

He reiterated that no fresh tax or burden would be imposed on people midway during the fiscal to meet the heavy expenditure planned. The financial position would be displayed on the Government website every month for scrutiny by public.

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