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Land sale proceeds to part fund AP budget
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Apart from Rs 5,000 crore from the IMG Bharata land sale, about Rs 3,500 crore will be raised from sale of land around Hyderabad to meet the Rs 32,973-crore annual Plan needs. 850 acres allotted to IMG Bharata to be sold
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Hyderabad
March 1
The Andhra Pradesh Government plans to sell 850 acres of land allotted to IMG Bharata near Hyderabad to raise Rs 5,000 crore to part-fund the State budget this year.
IMG Bharata was allotted land by the Naidu Government to set up sports academies but the Congress Government cancelled the allotment.
The State Finance Minister, Mr K. Rosaiah, said that apart from Rs 5,000 crore from IMG Bharata land sale, about Rs 3,500 crore would be raised from sale of land around Hyderabad to meet the requirement of Rs 32,973-crore annual Plan for 2007-08.
Announcing this in the State Legislative Assembly, Mr Rosaiah said that sale of lands was a big contributor to the significant jump in the Plan outlay for the year.
NO NEW TAXES
The Minister said that there was no move to impose fresh taxes to raise additional revenues to meet the projected plan requirements.
He said that all the receipts and expenditure would be available would be placed on the Government website and those wanting to know about the status were at liberty to visit the site. This is part of the transparency the State had brought about in governance.
To a suggestion, Mr Rosaiah said proceeds from land sale in the Telangana region would be used for development of the region.
The Minister said that regional development boards would be formed in the first week of April to ensure overall balance in development.
Emphasising the continued thrust of the State on irrigation and farm sectors, Mr Rosaiah said effort would be to harness Godavari and Krishna waters and steps would be taken not to waste even a drop of water.
This is one of the reasons why the State had stepped up allocation for irrigation sector.
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