Hyderabad, Aug 5:-
The Andhra Pradesh stood first in mobilizing domestic financial resources for the development of the State, said Minister for Finance Mr K Rosaiah here on Wednesday.
Making a statement on the budget, the Finance Minister said that the budget is people’s-oriented and no section of society had been left out in the budget.
The budget has equally focused on the development of minorities, Scheduled Castes/Tribes as it was the objective of the Congress party, he added. He said the budget has not imposed any new taxes on the people.
Due to global economic recession, the allotment of funds for non-priority sectors had been reduced. However, he said there was no shortage of funds for priority sector.
He said the export-oriented industries were affected mostly due to the global recession.
The Congress Government after assuming power, tried to reduce the debt burden of the state, he said. The government is making efforts to free the state from debts, he pointed out. The government had expected more revenue from registration of lands. But it had not mobilised more revenue due to recession, he stated.