To provide suggestions on investment structures

Our Bureau

The boards will be the sanctioning authority for Annual Assembly Constituency Development Fund of Rs 50 lakh each.

HyderabadMay 16The Andhra Pradesh Cabinet today approved the constitution of four regional planning and development boards to be empowered with some financial powers.

Ten districts in Telangana will come under the Telangana Planning and Development Board, while four districts of Rayalaseema will have a separate board. Six districts in coastal districts and three districts of north coastal Andhra Pradesh will also have separate boards.

The structure of these boards and powers, including financial, were approved based on the recommendations made by the Finance Minister, Mr K. Rosaiah.

These boards will be the sanctioning authority for Annual Assembly Constituency Development Fund of Rs 50 lakh each. So far, it was under the control of the district in-charge Minister. However, MLAs will eventually manage these funds. Each of the boards will have a Chairman and five members nominated by the State Government.

The Chairman would be of the rank of a Cabinet Minister in the State.

Speaking to newspersons after Cabinet meeting, the Energy Minister Mr Mohammed Shabbir Ali said that these boards would be provide inputs and suggestions on investment structures to the State Government to ensure all-round development.

These boards would meet at least once in three months and strive to bring in a balanced development while taking into account some of the regional problems and issues. Fund allocations from Hudco, Nabard and other schemes, including for rural uplift and social welfare, would be based on recommendations from these boards.

According to the Minister, the Cabinet said that the State had registered "tremendous progress" in the last five decades in sectors such as increase in gross irrigated area to 42 per cent (27 per cent), foodgrain output to 160 lakh tonnes (50 lakh tonnes), literacy to 65 per cent (20 per cent) and hospital bed strength to 36,000 (14,000). These boards would ensure faster development.

(This article was published in the Business Line print edition dated May 17, 2007)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.