Supplementary estimates approved

BANGALORE, MARCH 24. The Legislative Assembly today approved the third instalment of the supplementary estimates aggregating Rs. 2375.81 crores placed before the House by the Deputy Chief Minister and Finance Minister, Siddaramaiah. The second instalment of the supplementary estimates was approved in the previous sitting in February.

Mr. Siddaramaiah said additional resources of nearly Rs. 1,000 crores in the current year following high tax receipts and excise revenue has enabled the State to opt for repayment of high-cost loans and also restructure some of them.

The lone CPI(M) member, G.V. Srirama Reddy, speaking on the supplementary estimates, said the debt burden of the Government is Rs. 30,000 crores and the debt servicing cost is Rs. 4,028 crores. Hence, the focus of the Government should be on reducing debt. While the Government claims that its arrack revenue has substantially increased, for every licensed arrack shop in the villages, there are three unlicensed vendors, he said.

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