The Hindu Business Line : Rs 100-cr budgetary support for APSRTC

THE Chief Minister, Dr Y.S. Rajasekhara Reddy, has announced a budgetary support of Rs 100 crore to the State Road Transport Corporation (APSRTC).At a public meeting to pay homage to former Prime Minister Rajiv Gandhi here, he reacted sharply to media reports allegedly accusing him of trying to privatise APSRTC and sell off its properties.

Dr Reddy said that he had only suggested that APSRTC sell its non-performing assets (NPA) to come out of the red, stop extending concessions to certain quarters and ask the departments concerned to bear the burden of providing such concessions, if any.

Land for IT companies: Land was being provided in the city to information technology companies on low rates in a bid to generate employment for youth, he said.

He said that a major IT company in the State, Satyam, was provided land for Rs 80 lakhs. Similarly, efforts were being made to bring Wipro, Infosys and TCS to the city to provide more job opportunities.

``They are ready to buy land even at Rs 7 crore per acre. The sale proceeds would be utilised to develop the city. We will get Rs 70 crore through sale of land to IT companies and part of it will be used for the proposed super speciality hospital — Visakhapatnam Institute of Medical Sciences (VIMS) — being set up on the lines of NIMS of Hyderabad,'' he said, adding that already the efforts to mobilise funds for VIMS had begun.

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Rs 100-cr budgetary support for APSRTC