Prabhu addresses India-Argentina Business Forum

Prabhu addresses India-Argentina Business Forum

  Speed Post News Network New Delhi : Union Minister for Commerce & Industry and Civil Aviation Suresh Prabhu on February 18, 2019, said that India is keen to strengthen bilateral ties More »

PM to visit Varanasi on Feb. 19, to inaugurate Homi Bhabha Cancer Hospital Lehartara

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Speed Post News Network New Delhi : Prime Minister Narendra Modi will visit Varanasi, Uttar Pradesh, on February 19, 2019, and unveil several development projects there. The PM will flag off the More »

Fifth bathing festival of Prayagraj Kumbh on Feb.19

Fifth bathing festival of Prayagraj Kumbh on Feb.19

Speed Post News Network New Delhi : The 5th bathing festival of Maghi Purnima at Prayagraj Kumbh will take place on February 19, 2019. A large number of devotees and tourists are More »

NHRC notice to UP Govt. over unabated production of spurious liquor at Pusaina village

NHRC notice to UP Govt. over unabated production of spurious liquor at Pusaina village

Speed Post News Network New Delhi:  The National Human Rights Commission (NHRC) has taken suo motu cognizance of media report that at village  Pusaina in Mainpuri district of Uttar Pradesh out of More »

Two women hacked to death for dowry in W Champaran

Two women hacked to death for dowry in W Champaran

Speed Post News Network Bettiah : Two women, one of them pregnant, were hacked to death on February 17, 2019, allegedly by respective their in- laws for not bringing adequate dowry. Sources More »

Police arrest arms supplier in W Champaran

Police arrest arms supplier in W Champaran

Speed Post News Network Bettiah : Police on February 17, 2019, night, arrested two persons including an arms supplier Pappu Kumar, son of Tejoo Pratap Singh of Basudeopur police out post in More »

 

Spl. Category Status to states not part of TOR of FC : Singh

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New Delhi : Grant of ‘Special Category Status’ to states is out of purview of the Ṭerms of Reference of Finance Commission, said Chairman, Finance Commission, N KSingh at a press conference at Amaravati on October 11, 2018, after concluding a meeting with the state govt. led by Andhra Pradesh Chief Minister N Chandra Babu Naidu and his cabinet colleagues. Responding to the questions from the media, Singh stated that the issue was forcefully raised by the Chief Minister but it would be a transgression of the Presidential Notification by the Commission if it considers the issue of Special Category as it does not figure in its Terms of Reference (TOR). Philosophy of Special Category Status never emanated from any Finance Commission but from the resolution of erstwhile National Development Council.

The Fifteenth Finance Commission will take a sympathetic and positive view to the needs of Andhra Pradesh to achieve its targets, he said. The Commission believes that current initiatives of the state government are credible, timely and speedy and for a prosperous India, prosperous Andhra Pradesh is must. He lauded the contribution of Andhra Pradesh to the national GDP and said that it will do everything possible in constitutional framework to realise the state’s potential. He also appreciated the efforts in harnessing the potential of water resources by interlinking the rivers which is of enormous help for agriculture development. 

On the question of populist schemes, Singh said that Commission will have to delve deeper into it. There are many schemes which have become popular with significant outcomes, and at the same time, there are many which result in sub-optimal outcomes. On the question of using population census 2011, he said that it has been mentioned in the TOR and Commission will look into the ways of incentivising the states who have done well in controlling their population, according to a PIB release.

Thr Commission appreciated the high growth rate including agricultural growth achieved by Andhra Pradesh. It exhorted the state government to adopt smart agriculture and expand the food processing sector for value addition.

Earlier, highlighting the impact of bifurcation on the newly created state of Andhra Pradesh, both Chief Minister and Finance Minister said that residuary state of Andhra Pradesh comprising 58.32% of the population inherited only 46% of the revenues of the combined state. This structural disability may continue for more than a decade. Loss of Hyderabad’s ecosystem has led to the loss of urbanisation, service sector and revenue generation capacity. This has resulted in a change in the structure of economy from service to agriculture which in turn has led to slow increase in per capita income (PCI) as compared to other southern states and the gap with respect to southern states is increasing. 

All these factors imply that there is a need of handholding for Andhra Pradesh to sustain the double digit economic growth and achieve the Vision 2029 of reaching 1 trillion dollar economy, Naidu said.

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