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The Andhra Pradesh Government is now pinning its hopes for additional gas allocation for the State on Mr S. Jaipal Reddy, assuming office as the Union Minister for Petroleum and Natural Gas in the recent Cabinet reshuffle.
Addressing a press conference here today, the State Finance Minister, Mr Anam Ramnarayan Reddy, said that he has made a fervent appeal to the Centre about the need to engage States where gas fields are located. This issue was taken up at the State Finance Ministers' meeting at New Delhi recently as the current norms do not provide for any role to the State.
“We believe this is a glaring issue which needs to be immediately addressed not just from the point of view of additional revenues for the State where there is land fall from oil and gas fields, but also from the perspective of harnessing the potential of such gas finds,” he said.
The State has also sought for additional fuel allocation to the Andhra Pradesh as this will enable us take up more power projects and also supply gas through city gas distribution networks, he said.
The State Government has been demanding the Centre to allow the State to collect royalty and harness the potential of the gas find along the coast in the Krishna Godavari basin. Apart from higher allocation, it has been seeking lower prices for the State.
State finances
Referring to State finances, Mr Ramanarayan Reddy said the revenue collection has gone up by about 27 per cent in the first nine months this fiscal (ended December 2010), compared to same period in 2009. This collection was lower by about 6-7 per cent when compared to expected projections. However, the Minister did not give actual numbers.
He said that the Group of Ministers constituted to address problems of State Government employees will try and sort out their problems within couple of days. The Government employees are on pen down strike seeking higher perks and regularisation of some workers.
MFIs
On the Malegam Committee recommendations, Mr.Reddy said that the Rural Development Department were directed to study the report and its implications on the micro-finance institutions (MFIs). Based on its findings, appropriate follow-up action will be taken.
He said the enactment to regulate MFIs was aimed at protecting women self-help groups against exploitation by MFIs.
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