MARKET DEVELOPMENT
Budget Exercise for United AP Begins
Budget Exercise for United AP Begins
30/11/2013 (The New Indian Express) - The finance department has started the Budget exercise for the entire state of Andhra Pradesh as per its schedule even though the process to carve out Telangana state is underway.
Normally, the state finance department will commence budget exercise in the last week of November and complete it by the end of January and Vote on Account Budget will be presented in the Assembly in February.
Asked about preparation of the budget in the wake of the ongoing process of division of the state, finance minister Anam Ramanarayana Reddy said since the state is not yet divided, the process for preparation of budget covers the entire state.
The budgetary proposals would be received and discussions held online. In some cases, the finance department would invite the officials to discuss the issues relating to the budget proposals. Earlier, the finance minister reviewed the issues relating to Civil Supplies Corporation with civil supplies minister D Sridhar Babu. The demand to increase the commission for fair price shop dealers, increasing the transportation charges for the kerosene suppliers to fair price shops were discussed in the meeting.
“We will take a decision on the increasing the commission to them after discussing the matter with the chief minister,” the finance minister said. He pointed out that the commission to fair price shop dealers were not revised for eight years and the kerosene transportation charges were not hiked for 11 years.
PALM OIL SUBSIDY: The state government may increase the price of palm oil to be distributed through fair price shops. The finance minister and the civil supplies minister discussed the same in the meeting.
The Central government under import policy decided not to give subsidy to states for palm oil. As a result, the state was bearing the entire subsidy for the last two months. The palm oil price in the open market was around Rs 69 and the government was supplying the same to white ration card holders for Rs 39 per litre.
“We are purchasing palm oil in the open market to supply it to consumers. The burden on the state was around Rs 28 crore on this,” the finance minister said. The price of palm oil would be hiked upwardly after getting a nod from the chief minister, he added.
Normally, the state finance department will commence budget exercise in the last week of November and complete it by the end of January and Vote on Account Budget will be presented in the Assembly in February.
Asked about preparation of the budget in the wake of the ongoing process of division of the state, finance minister Anam Ramanarayana Reddy said since the state is not yet divided, the process for preparation of budget covers the entire state.
The budgetary proposals would be received and discussions held online. In some cases, the finance department would invite the officials to discuss the issues relating to the budget proposals. Earlier, the finance minister reviewed the issues relating to Civil Supplies Corporation with civil supplies minister D Sridhar Babu. The demand to increase the commission for fair price shop dealers, increasing the transportation charges for the kerosene suppliers to fair price shops were discussed in the meeting.
“We will take a decision on the increasing the commission to them after discussing the matter with the chief minister,” the finance minister said. He pointed out that the commission to fair price shop dealers were not revised for eight years and the kerosene transportation charges were not hiked for 11 years.
PALM OIL SUBSIDY: The state government may increase the price of palm oil to be distributed through fair price shops. The finance minister and the civil supplies minister discussed the same in the meeting.
The Central government under import policy decided not to give subsidy to states for palm oil. As a result, the state was bearing the entire subsidy for the last two months. The palm oil price in the open market was around Rs 69 and the government was supplying the same to white ration card holders for Rs 39 per litre.
“We are purchasing palm oil in the open market to supply it to consumers. The burden on the state was around Rs 28 crore on this,” the finance minister said. The price of palm oil would be hiked upwardly after getting a nod from the chief minister, he added.