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UPA govt inflicted grave injustice: Naidu in white paper
UPA Govt Inflicted Grave Injustice: Chandrababu Naidu in White Paper. Andhra Pradesh Chief Minister N Chandrababu Naidu has said the AP Reorganisation Act of 2014 was pushed through in a hurry, resulting t in colossal damage to the State. “The Reorganisation Act is the fountainhead of all problems,” he felt.
- Rs 15,691 crore resource gap estimated for the 2014-15 fiscal year
- Rs 26,000 crore more required over the limits approved by the Centre
- Expenditure on salaries and pensions is nearly 73 per cent of revenue
- Rs 5 lakh crore needed to build a capital like Hyderabad
Hyderabad: Andhra Pradesh Chief Minister N Chandrababu Naidu has said the AP Reorganisation Act of 2014 was pushed through in a hurry, resulting t in colossal damage to the State. “The Reorganisation Act is the fountainhead of all problems,” he felt.
Releasing a White Paper “the impact of State Reorganisation'' at his residence here on Sunday, Naidu said the reorganisation had created disequilibrium in terms of developmental dynamics and exercised negative impact on several key sectors.
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Stating that the AP was left to face enormous fiscal challenges, Naidu said the total revenue receipts were likely to be less than 50 per cent compared to that of the united AP, while the expenditure based on population ratio is likely to be 60 per cent. This resulted in revenue deficit of 4.8 per cent and fiscal deficit of 7.18 per cent. The expenditure on salaries and pensions in the new State would be around 73 per cent of the revenue, leaving little scope for development activities.
“Overall, the State is at a significant disadvantage vis-a-vis Telangana State,'' he said and added that the resource gap for the 10 month period of the current financial year is around Rs 15,691 crore compared to a surplus of Rs 3,555 crore for Telangana.
He said against requirement of more than Rs 32,000 crore for the plan as per 2014-2015 vote on account budget, the resources available are around Rs 5,791 crore.
This would mean that about Rs 26,000 crore are required additionally over and above the limits approved by the Central government for the current year borrowing.
Regarding capital, he said the UPA did not even focus on the new capital for the residual State. “Hyderabad earned a brand name with not only the contribution of Telugu people but people from all over the country. Now we need Rs 5 lakh crore to build a city like Hyderabad,” he said.
Asked when the government was moving to Vijayawada, he said “the Centre gave us time for 10 years and it is our wish when to move,'' he said.
