Next week when the Andhra Pradesh Assembly meets to ratify the GST Bill, it would be the last session of the Assembly in Hyderabad before it is shifted to Amaravati, the new capital of the state.
State Finance Minister Yanamala Ramakrishunudu said that the new Assembly building in Amravati will be ready by January and the next session will be held in the new capital city. “We will be conducting the Assembly session in Hyderabad for ratification of the GST Bill next week,’’ he said.
Meanwhile, the TDP government asked the Centre to bail out the state’s revenue deficit, which currently stands at Rs 10,000 crore.
“The Centre should sanction special status to the state… In 2015-16, the revenue earned was Rs 46,051 crore, while the expenditure stood at Rs 49,051 crore — a deficit of Rs 3,000 crore. This will increase to Rs 10,000 crore this financial year,” the minister said after chairing a Group of Ministers meeting on revenue and expenditure.
A review of the situation has revealed that all is not well with the state’s finances, two years after its bifurcation. Except for the commercial taxes department that registered a 10 per cent growth, and the transport department, all the other departments are showing negative growth. There is negative growth in excise and stamps and registration departments, too.
Ramakrishunudu said that there was a need to analyse the negative growth rate in both the departments. The Centre is yet to release the money to meet the 2014-15 revenue deficit, he added.
According to him, the water resources and municipal administration needs Rs 7,000 crore additional funds as he pointed to the current drought condition prevailing in some districts.