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Centre yet to come to AP’s aid: Yanamala
The Centre was yet to fulfill the assurances it had given under the AP State Reorganisation Act, said Finance Minister Yanamala Ramakrishnudu. It was also yet to give the central assistance it had promised, he added. Replying to a question raised by YSRCP MLA Bhuma Nagi Reddy and others, the Finance Minister said that the Centre had released Rs 2,303 crore as ad hoc amount to bridge the resource gap for the financial year 2014-15.
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Hyderabad: The Centre was yet to fulfill the assurances it had given under the AP State Reorganisation Act, said Finance Minister Yanamala Ramakrishnudu. It was also yet to give the central assistance it had promised, he added. Replying to a question raised by YSRCP MLA Bhuma Nagi Reddy and others, the Finance Minister said that the Centre had released Rs 2,303 crore as ad hoc amount to bridge the resource gap for the financial year 2014-15.
Basing on the preliminary accounts of the Accountant-General the Centre has been requested to release Rs 12,106 crore. As part of the fiscal measures and incentives for industrial development, the Centre has sanctioned 15 percent investment allowance and 15 percent additional accelerated depreciation, for a period of five years, the finance minister said.
In addition to this, 3 percent interest subvention has been proposed on working capital for five years with a ceiling of Rs 10 lakh per year. These benefits would be extended to the new manufacturing units set up in notified areas. But, the notification of backward areas for this purpose is still under process, he added.
The State has also requested another Rs 1,500 crore every year for the next four years to develop industrial estates to suitably incentivize the establishment of Greenfield manufacturing units. Under the Backward Areas Development Package Rs 350 crore has been released, and a development grant of Rs 200 crore has been given every year to each of the seven districts for the next four years.
He said a proposal with a total outlay of Rs 20,235 crore over five years has been submitted for financial assistance to the capital city. Yanamala said that the Centre has provided only Rs 100 crore for the Polavaram project during 2015-16 budget, and out of 11 higher educational institutions promised under the Act so far IIT, NIT, IIM, IISER and IIT have been brought into operation from the current academic year, he said.
The minister said Rs 1 crore has been allocated in the Union Budget, for Central University, Tribal University, and Petroleum University. Similarly, Rs 75 crore has been allocated for Agriculture University, besides, Rs 5.63 crore for Visakhapatnam Metro Rail Project, and another Rs 5.63crore for Vijayawada Metro Rail Project. The four IR battalions were sanctioned for raising additional police forces, he added.
