Yanamala hints at slashing of unproductive expenditure

Rajahmundry: Finance Minister Yanamala Ramakrishnudu on Tuesday indicated that the State government was contemplating reduction in allocations to unproductive departments in forthcoming Budget. He intended to introduce zero-based budget first time.

In an informal meeting with media persons at R and B guesthouse here, the Finance Minister said that the officials were charting plans to bring down revenue deficit from present 4 plus percent to zero and fiscal deficit from 7.4 percent to 3.74 percent. He said the government would lay emphasis on cutting down revenue expenditure and at the same time increase capital expenditure to strengthen the fiscal position of the state.

Ramakrishnudu said agriculture, irrigation and power sectors would be given top priority in the coming budget. “Our Budget is going to contribute to economic growth, credibility of government and find solution to problems being faced by people,” he added.

Replying to a question, Mr. Ramakrishnudu suggested that opposition parties, including Y S Jagan Reddy and N Raghuveera Reddy, to adopt realistic approach towards public issues, particularly on the issue of land pooling for capital city. He categorically stated that the memorandum of understanding was reached with Singapore government and not with any individual or private firms. Responding on housing irregularities in Congress government, the Finance Minister said inquiry report was expected soon.