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400 CR Welfare & Development Fund Set Up For New Schemes: Anam

Posted by on February 23, 2011 0 Comment

Hyderabad, Feb.23 (NSS): The Minister for Finance, Mr Anam Ramanarayana Reddy, on Wednesday felt that the 2011-12 budget maintains equal importance to the welfare and development and aimed at achieving “Harithandra Pradesh”.

Addressing a media conference after presenting the Budget in the Assembly, Mr Reddy said that there would be balance between welfare and development. Giving equal importance to the two sectors, required funds have been allocated to them in the budget. A Welfare and Development Special Fund with a corpus of Rs 400 crores has been set up in this budget to take up more new schemes under some extraordinary situations. He said that the Chief Minister, Mr Kiran Kumar Reddy, has come up with the idea as the government was facing problem of ‘budgetary provision’ to take up additional works and new schemes in middle of financial years. The Rs 400-crore special fund would facilitate the government to take up additional works and new schemes at any point of time, he added.

The Finance Minister said that the government would work with a policy to collect taxes and ensure revenue flow to the State exchequer. Opining that the revenue sources were increasing, he exuded confidence that the government would generate revenue targeted in the budget. The lapses in Excise, Stamps and Registration departments, which were major revenue generators, would be corrected and the revenue receipts would be improved further, he added. It was also proposed in the Budget to improve employment opportunities by utilizing the resources in a proper way, he added.

Replying to a question, Mr Reddy said that there was time till March 31 to spend the budgetary allocations of the 2010-11 financial year. Funds would be released up to March 31 required for capital expenditure, he said. He felt that there was no use of sale of government lands during the period of economic meltdown. Therefore, sale of government lands for generation of revenue was not proposed in this budget. The government had done the same during the previous budget also, he reminded. The government would go for selling of its lands if they fetch reasonable price, he added. He expected that the revenue of commercial taxes may be increased this year due to registered economic growth.


The Minister also said the government would make efforts to decrease the burden of power subsidy by reducing the transmission losses and encouraging usage of modified pump sets. Separate agriculture feeder channels would be set up to facilitate the exact consumption of power by the agriculture sector. He also made it clear that the government has no plan to fix meters to agriculture connections as suggested by the 13th Finance Commission.

The Minister pointed out that the allocation to the Education sector was increased to 8.49 per cent of the total budget this year from 7.3 per cent in 2010-11 Budget. The allocation for Minorities welfare was also increased to Rs 301 crores in this Budget from Rs 237 crores in the previous budget and it was 27 per cent increase in the allocation of funds to the sector compared to last year’s budgetary allocation.

Mr Ramanarayana Reddy also felt that there would be impact of non-cooperation movement of Telangana employees and JACs on the revenue of the State government. The impact of the movement was temporary and there would be no losses to the government as taxes and bills would be collected after some time. (NSS)

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