Buggana urges Union FinMin to extend soft loan

PNS|Vijayawada

Union Finance Minister Nirmala Sitharaman held the pre-budget consultations with the Finance Ministers of States and Union Territories (with Legislature) in Delhi on Friday. The meeting was attended by Union Ministers of State (Finance), Chief Ministers, Deputy Chief Ministers, Lt Governor of Jammu & Kashmir, Finance Ministers, Ministers and Senior Officers from the States/Union Territories and the Union Government.

Speaking to the media person after the pre-budget consultations with the Union Finance Minister, AP Finance Minister Buggana Rajendranath Reddy said that many suggestions and requests have been made in the best interest of the state. of Andhra Pradesh during the meeting. He said the issues discussed were special assistance towards capital expenditure (Soft loan) should be extended for the next year. Discussed (Green Bonds) on rentable energy projects like Solar and Wind energy for the state. Infrastructure should be included under the PMAY housing programme. Spill-over issues under state reorganisation were discussed that includes Polavaram land acquisition under Act 2013, cost should be increased under revised estimates and the price should be approved.

The State FM further said that the other issues that were discussed during the meeting were the development of backward areas in Rayalaseema and Uttarandhra besides Road and Rail projects in the states. The FM said that after YSRC took the reins in 2019 the government was very focused and has given top priority to the Education and Health sector to help the poor and the needy who need government help. Discussed government Medical Colleges and Hospital in every district, Industrial corridor for employment to unemployed youth, he said. Regarding GST, the FM said that in the form of Cess the centre was getting 68 % income while the state was incurring 62 % expenditure.

After the arrival of the FM of various states, the Secretary, the Department of Economic Affairs, Ministry of Finance, welcomed all the participants to the meeting and informed the importance of this particular consultation for the ensuing Budget. Most of the participants thanked the Union Finance Minister for financially supporting their States/Union Territories by enhancing borrowing limits, providing two advanced devolution installments, and through Special Assistance for capital expenditure. The participants also gave numerous suggestions to the Union Finance Minister for inclusion in the Budget Speech. The Union Finance Minister thanked the participants for their inputs and suggestions towards Budget 2023-24 and promised to examine each of the proposals.