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AP Govt committed to fiscal prudence: Rosaiah

Written by: Staff

Hyderabad, Mar 1 (UNI) Andhra Pradesh Finance Minister K Rosaiah today asserted that the Congress Government had adopted prudent fiscal measures even while making increased allocation for all sectors in the Budget.

Replying to the debate in the Assembly, Mr Rosaiah pointed out that the Government had not availed of the overdraft facility with the Reserve Bank of India even for a single day unlike the previous TDP Government which had taken resort to the facility at least for 290 days in a year.

The government was committed to bring down the revenue deficit to zero level by 2008 in keeping with the fiscal responsibility and Budget Management Act, he informed.

Denying the Left parties charge that the State Government had succumbed to the World Bank's conditionalities and imposed cut in allocation for social welfare programmes, he said evenwhile stepping up allocation for social welfare, the government had earmarked funds for housing (Rs 1802 crore), house sites (Rs 500 crore) and provision of pensions for the old age persons(Rs 440 crore).

Later, responding to clarifications sought by members, Mr Rosaiah thanked Union Finance Minister P Chidambaram for including the Hyderabad Mass Rapid Transit System(MRTS) in the Union Budget.

He placed on record the special efforts made by Chief Minister Y S Rajasekhara Reddy in getting allocation for the MRTS by the UPA Government.

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