TDP has no financial discipline

Hyderabad, Nov 13: Demanding a statement on the financial status of the State in wake of the apprehensions and contradictory statements, YSR Congress has said the Finance Minister should be open for a debate with economists and academics.
‘Even as the extravaganza of the state continues adversely affecting the welfare schemes, the state government has been time and again speaking of financial crisis. On one hand it has unrolled an ambitious plan of building of a multi-million rupees capital city and at the same time has been speaking of empty coffers. This duality should be explained in full,’ party spokesperson K. Parthasarathi told reporters here on Friday.

The huge amounts, which does not exist in the state coffers, would come only by taxing the people heavily or settling for a sell-out to foreign  companies and the government should explain as to how will it would mop up the finances for the capital city.
The budget is more than that of the united state but lacks transparency. It has increased RTC bus charges and power charges but still speaks of deficit and is depleting the welfare schemes.

To explain this and other financial mismanagement, a statement should be made by the government giving the financial status of the state and the finance minister should be prepared for a debate on financial discipline with economists.

‘The extravaganza of the state has been in the open with huge amounts being spent on special flights of Chief Minister running into Rs 250 cores and Rs 200 crores for refurbishing his house, office and cabin and Rs 400 crores for capital city foundation stone laying function though the Prime Minister gave no assurance leaving the state high and dry.

The state has given incentives with retrospective effect to industrialists to a tune of Rs 2,500 crores and spent Rs 1,500 crores on the redundant Pattiseema.

This entire extravaganza has an adverse effect on the welfare schemes which are being drastically cut to size. The pensions are cut to size and given on a pick and choose method.

The extravaganza has been badly affecting the welfare schemes and we demand that the government give a statement on the financial status, he said.
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