KCR in high spirits over buoyant economy

Says there is no need to panic about financial resources; vows to fulfil all poll promises

Hyderabad: Chief Minister K Chandrashekar Rao on Tuesday said the State economy was proving handy as State revenue showed 15 per cent growth and steps were on to integrate the resources for reaching the targets of completing projects and welfare schemes. The Chief Minister informed the House that there was no need to panic for loans and State loans were pegged at 16.1 per cent while per capita income was 19 per cent.

State revenue would surpass Rs 2 lakh-crore budget by 2019-20, he exuded confidence. He also said the State would get about Rs 14,000 crore loans and about Rs 3,000 crore more on raising the cap of FRBM limit to 3 .5 per cent. Chandrashekar Rao said that all manifesto promises would be kept in a phased manner.

Vouching for speedy completion of the flagship programmes of Mission Bhagiratha and Mission Kakatiya, he said Palamur and other irrigation schemes would be completed in Mahabubnagar, Nalgonda and other districts by spending funds. Chandrashekar Rao stated that perennial drought problem would be addressed, despite poor help from the Centre, and would give a total of Rs 600 crore towards input subsidy.

Fee reimbursement would be cleared soon on monthly basis, he said and added that lands sale would add to revenues for State growth and augment projects on hand for sustainable development and for better future of posterity. Rebuffing the comments that people were against the government policies, he said that elections reflected the mood of people. Recently-held by-polls and civic body elections spoke volumes of how the people were in support of the State government, Chandrashekar Rao said.

Painting a rosy picture ahead as the government was according top priority to key sectors like irrigation, drinking water, power and jobs for youth with adequate funds, leader of the House asserted that budgetary allocations were factual and proposals were made suitably for Rs 1.30 lakh crore for 2016-17.

Chandrashekar Rao informed the House that irrigation, water and power sectors were key for growth and said the government would complete projects avoiding fight with neighbouring States to irrigate one crore acres and spend Rs 1.50 lakh crore in 5 years. Chanaka Korata project would replace Lower Penganga to improve irrigation, he said adding that safe water through Mission Bhagiratha would be implemented in nine Assembly segments.

Expressing thanks to members for their opinions on the budget presented by Finance Minister Eatala Rajender, Chandrashekar Rao stated that 40 issues were debated but not fruitfully. Though being the youngest State, the government had prepared the budget by taking experts’ inputs and advices, he said and pooh-poohed the comments of jugglery of numbers in the budget.

Giving reply to the members of all political parties in the House on budget, he said, “We will build two lakh double bedroom houses for the poor this year and will give two other categories to different income groups in the State. Prime Minister Narendra Modi gave a pat to the State government for its improved performance in financial, revenue and other sectors.”