Om Namo Venkatesaya

Center finalizes loss of AP due to Hyderabad

Accountant-General of India had finalized the amount of revenue loss experienced by Andhra Pradesh due to the state bifurcation. While AP estimated that the revenue deficit is Rs 16,500 crore, A-G calculated it to be Rs 14,423 crore.

The central government should compensate this revenue loss according to the Andhra Pradesh Reorganization act. Center so far released 2300 Crore and so should release the balance amount of Rs 12,123 crore. While AP asked A-G to re-examine its calculation, the state government will press for the release of 12.123 Crore immediately.

Andhra Pradesh Chief Minister Chandrababu Naidu will meet Niti Aayog vice-chairman Arvind Panagariya on December 9 to see that the revenue deficit is being reimbursed in full and in possibly in one go. The state government is expecting to get a huge financial package in the annual budget for 2016-17.