Union Finance Minister Arun Jaitley on Saturday asserted that Andhra Pradesh had not been ignored in the wake of the financial stress it had come under following bifurcation.
Taking questions from novelist Chetan Bhagat at a ‘Talkathon’, a platform to connect with people worldwide through social media on Saturday evening, organised by the I & B Ministry in New Delhi, Mr. Jaitley said the issue of revenue deficit to A.P. had already been addressed by the 14th Finance Commission, which had made a recommendation to help it tide over that problem. Referring to other issues, Mr. Jaitley said: “We will fully support A.P. for building a new Capital.”
Mr. Jaitley said he had also announced in the Budget about giving effect to the provisions of Section 94 of the A.P. Reorganisation Act, 2014. Under that it was proposed to “allow an additional investment allowance @15 per cent and additional depreciation @15 per cent to new manufacturing units, set up during the period 01-04-2015 to 31-03-2020 in notified areas of A.P. and Telangana.”
