- Since the state is in serious financial issue Andhra Pradesh Finance Minister Yanamala will approach the center for Fiscal Responsibility and Budget Management (FRBM) Act and relax certain fiscal parameters
- Revenue deficit is around 16,000 crore and the state is requesting the center to bridge this
- Steps will be taken to ensure and curb the loop holes and check on the unproductive expenditure and stop it
- Finance minister has requested the center to grant Special Category Status and he again told government would mobilise revenues without levying any taxes on the people
- Andhra Pradesh finance minister wants the National Development Council to look upon approving the Special Category Status for 5 years, as Mr.Manmohan Singh had committed in Rajya Sabha
- Read at:http://www.thehindu.com/todays-paper/ap-to-seek-centres-nod-to-amend-frbm-act/article6118053.ece
Exams Perspective:
- Special Category Status
- Fiscal Responsibility and Budget Management (FRBM) Act
- National Development Council (NDC)
- Revenue deficit