Monday, November 17, 2008

No funds with State, admits YSR

No funds with State, admits YSR
: The State Government is hard up for money. Its dream of raising Rs.12,000 crore by selling land lies shattered. It sends an SOS to the Centre to fund its development works including diversion of Godavari water to the twin cities to meet drinking water requirements of the citizens.
Chief Minister Y S Rajasekhara Reddy said today after commissioning 24 hour water supply in Hyderabad: The Centre has to allocate funds for development works and Godavari water project.
‘‘The response to the proposal to sell land has been far from satisfactory due to real estate sector taking a hit following global financial crisis.We could not mobilise more than 30 to 40 per cent of the projected revenues of Rs.12,000 crore,’’ he said, admitting that the State’s economy is not vibrant.
He requested Union Minister for Urban Development S Jaipal Reddy who was present at the function, to allocate more funds to the State for taking up developmental projects, including the Rs 3,300 crore Phase-I of the Godavari project, planned to bring 10 TMC of water to the twin cities.