Andhra Pradesh government would come with a white paper detailing the factual position on the precarious financial position soon after the Assembly session, Finance and Legislative Affairs Minister Y. Ramakrishnudu said here on Thursday.
In an informal chat with reporters in his chambers in the Assembly, he reiterated that the State government would write to the Centre seeking permission to amend the Fiscal Responsibility and Budget Management (FRBM) Act for relaxing the norms relating to fiscal and revenue deficits. Besides Centre, Parliament would also have to give its approval for such relaxation which would enable the State government to go in for additional borrowings, he added.
He asserted that the assurance given by the State government on crop loan waiver would be implemented at any cost, although it might not be easy. He said various options would be explored and raising bonds was not the only method to meet the situation when it was pointed out that Reserve Bank of India was objecting to issuing bonds to banks.
Mr. Ramakrishnudu said the committee appointed to work out the modalities would submit its report by June 22, based on which the government would take a decision.
Earlier, Mr. Ramakrishnudu along with Agriculture Minister P. Pulla Rao and Panchayat Raj Minister Ch. Ayyanna Patrudu held a meeting with officials and asked them come up with proposals for linking MGNREGS to agriculture. The State government is planning to write to the Centre in this regard.
