Financial Daily from THE HINDU group of publications Tuesday, Mar 30, 2004 |
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Government
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Budget AP Cabinet clears vote-on-account for first quarter Our Bureau
Hyderabad , March 29 THE Andhra Pradesh Cabinet today approved a vote-on-account for the first quarter of next fiscal applicable from April 1 to July 31, 2004. In what could be the last Cabinet meeting of the caretaker Government headed by the Chief Minister, Mr N. Chandrababu Naidu, here today, the vote-on-account was approved at the meeting held here and later sent to the State Governor, Mr Surjit Singh Barnala, for his assent. The Governor is expected to promulgate an ordinance to this effect. The State Finance Minister, Mr Y. Ramakrishnudu, said that the ordinance would be issued before March 31 and empower the Government to appropriate necessary amounts from the Consolidated Fund of India for the four-month period for which the Cabinet gave its assent. This move to pass vote-on-account comes in the wake of the House being adjourned late last year and the delay in holding elections to the State Legislative Assembly. With the State now set to witness simultaneous polls, the Cabinet had to approve the vote-on-account under Article 163 of the Constitution. These funds would be necessary to handle day-to-day affairs, salaries and meet the requirements of ongoing schemes. Consequently, the State Governor is expected to pass an ordinance under the Article 213 of the Constitution. The State Cabinet has sought about one-third of the budget for fiscal 2003-2004, which is estimated at about Rs 14,000 crore. With the State Cabinet referring the resolution to the Governor, this will pave the way for issue of ordinance, Mr Ramakrishnudu stated. It may be recalled that the Chandrababu Naidu Government was dissolved on November 14 to pave the way for elections in the State. This extraordinary circumstance arose since the House could not be convened and the budget process also could not be addressed. With the next financial year beginning within days, the State administration would now be in a position to manage day-to-day essential expenditure and meet other requirements including schemes by withdrawal of money from the Consolidated Fund.
More Stories on : Budget | Andhra Pradesh
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