The Hindu Business Line : AP CM says prudent fiscal management yielding results

PRUDENT fiscal management being put in place by the Andhra Pradesh Government is not only helping bring down revenue deficit, but was also helping better spending of available resources to people-oriented projects, the Chief Minister, Dr Y.S. Rajasekhara Reddy, asserted in the State Legislative Assembly today.

In a marathon over three-hour response to the Governor's address, minus the main Telugu Desam Party opposition in the House, Dr Reddy claimed that during the last 9 months of the Congress(I)-led rule, the State had not taken any overdraft.

In contrast, the erstwhile Telugu Desam Government often resorted to overdrafts, he commented.

Earlier in the morning the Speaker had suspended the TDP members, except its leader Mr Chandrababu Naidu, for stalling the proceedings. Mr Naidu also walked out in protest.

Taking potshots at the 9-year TDP rule, he said the TDP inherited a Rs 234 crore revenue surplus from the Congress(I) in 1994, but pushed the State to a staggering Rs 21,994-crore deficit. In 1996-97, the revenue deficit was Rs 3,199 crore, against loans of Rs 3,111 crores.

The Congress(I) Government has reduced the revenue deficit to Rs 1,461 crore and is committed to bring it down to 3-3.5 per cent of the gross State domestic product, as directed by the Centre, Dr Reddy asserted.

Rebutting criticism levelled by Mr Naidu that the Congress Government neither had direction nor focus, Dr Reddy said his Government had allocated major funds to irrigation, employment generating schemes, de-flouridation schemes, helping women to utilise land disbributed free, housing for poor, helping farmers etc.

The TDP was busy selling Government undertakings, especially sugar mills and lands cheaply, and did not bother about welfare schemes for people. Nine months, is a short period to judge the Government, which he claimed was moving in the right direction.

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