Finance Minister Yanamala Ramakrishnudu has stated that the Central government’s proposal to shift the financial year from April 1 to March 31 to the calendar year January 1 to December 31, would be beneficial to the Sate.
The Finance Minister reviewed the merits and demerits of the proposal vis-a-vis Andhra Pradesh, at his office at Velagapudi in Guntur district on Tuesday.
Later, addressing a press conference, Mr. Ramakrishnudu said that the State government would get adequate time for planning and preparing its budget.
On GST, he said that Andhra Pradesh would witness a loss of Rs. 4,500 crore due to the GST.
But, there were provisions to safeguard the interests of the State.
The State government was of the opinion that the GST should be in the range of 18-20 per cent. Anything above that would be burdensome.
The government would convey the same to the Centre at GST Council meeting scheduled on September 22 and 23, he said.
Referring to outsourcing employees’ issues, the Minister said that the government would take all possible measures to protect the interests of the outsourced employees.
State government would get adequate time for planning and preparing its budget
Yanamala Ramakrishnudu
