STOCK MARKET BSE NSE

AP House Adjourned Sine Die After Passing Appropriation Bill

The Andhra Pradesh Legislative Assembly was today adjourned sine die after passing the Appropriation Bill, 2015. 

Published: 27th March 2015 06:29 PM  |   Last Updated: 27th March 2015 06:29 PM   |  A+A-

Andhra pradesh assembly   PTI_0_0
By PTI

HYDERABAD: The Andhra Pradesh Legislative Assembly was today adjourned sine die after passing the Appropriation Bill, 2015. 

Speaking during the debate on the Bill, Finance Miniter Y Ramakrishnudu, who had said the state will have to avail the overdraft (OD) facility from RBI, said today that the state government has to resort to facilities like OD and ways and means in view of the financial crunch. 

The financial burden increased in view of the substantial hike in the salaries of government staff and other commitments, he said. 

The Finance Minister had said in his budget estimates for 2015-16 that the estimated revenue deficit is Rs 7,300 crore, while the fiscal deficit is estimated at Rs 17,584 crore. 

In his budget speech earlier this month, Ramakrishnudu had pointed out that the successor state of Andhra Pradesh faces severe resource constraints due to the bifurcation. 

The state government has been pleading with the Centre to come to its rescue as well as deliver on promises made during Andhra Pradesh's bifurcation last year. 

The Union Budget and the 14th Finance Commission did not meet the expectations of the state government, Ramakrishnudu said. 

Noting that the state government is trying to improve its revenue, he hoped today that the state's revenue may increase with the implementation of GST regime soon. 

Referring to Opposition leader Y S Jaganmohan Reddy's criticism on various economic and development indices on the basis of economic survey, the Finance Minister said the figures were related to last year (when Congress was in power). 

He explained that the TDP government has drawn up elaborate and ambitious plans for the state's development.

Stay up to date on all the latest Andhra Pradesh news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp