X
X
Top

Triple whammy for AP common man

Triple whammy for AP common man
x
Highlights

With the Centre expressing its inability to come to its rescue with regard to extending financial help till its own revenue-earning position improved, the Andhra Pradesh government is contemplating to levy triple burden on the common man in the next budget.

Staggering deficit of 16,000 cr to force AP govt to levy user charges, VAT and hike power tariff

Hyderabad: With the Centre expressing its inability to come to its rescue with regard to extending financial help till its own revenue-earning position improved, the Andhra Pradesh government is contemplating to levy triple burden on the common man in the next budget.

Indicating this on Tuesday, Finance Minister Yanamala Ramakrishnudu said the deficit in the next budget would be around Rs 16,000 crore and since the funds from the Centre had not come as expected, “the government has no option but to levy user charges and perhaps some new taxes to tackle the growing revenue deficit.”

Ramakrishnudu said the situation of finances of the state were not encouraging and might become an impediment to the development activities. Recalling what Chief Minister N Chandrababu Naidu said earlier at a press conference, the Finance Minister said already the government had restricted developmental activities and postponed certain key decisions which involve high financial commitment for a later date.

He said besides introducing user charges it was also considering to raise loans to cut down the growing financial gap and introduce VAT on the petroleum and diesel prices, as it was done in Telangana. A decision would be taken after it studies the allocations that would be made by the 14th Finance Commission and holds pre budget interaction with various stake holders from February 5-13. Meanwhile, the AP power utilities on Tuesday submitted the Annual Revenue Requirement (ARR) which is learnt to have recommended reduction of slabs.

Show Full Article
Print Article
Download The Hans India Android App or iOS App for the Latest update on your phone.
Subscribed Failed...
Subscribed Successfully...
Next Story
More Stories