Financial Daily from THE HINDU group of publications
Tuesday, Oct 19, 2004
Financial Daily from THE HINDU group of publications Tuesday, Oct 19, 2004 |
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Industry & Economy
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Social Welfare Food-for-work rice misused by previous Govt, says Rosaiah Our Bureau
Hyderabad , Oct. 18 THE five-month-old Congress Government has alleged that two lakh tonnes of rice that the State received from the Centre under the `food for work' scheme was found unaccounted and illegally diverted for paying transportation charges and sales tax. Addressing a press conference here on Monday, Mr K. Rosaiah, the State Finance Minister, said the Centre released 54.69 lakh tonnes of rice. The State, however, was to remit Rs 259 crore towards sales tax, transport and handling charges and marketing cess. Instead, the previous Government diverted part of the rice stocks to raise the required amount, resulting in a shortage of two lakh tonnes in the stock. This came in the way of the Government to claim more rice from the Centre, as it required a utilisation certification for the previous release. Criticising the TDP for levelling baseless and thoughtless allegations on the Congress Government's financial management, Mr Rosaiah said his Government spent more amount on priority sectors such as irrigation, agriculture and youth advancement. The Government spent Rs 967.21 crore during the April-September of the current fiscal as against Rs 802.37 crore in the same period last year. The expenditure of the Agriculture and Cooperation Department stood at Rs 372.39 crore (Rs 295.41 crore). The Government could achieve this, despite the fact that it had lost two months (April and May) on elections. The tax revenue shot up to Rs 7,349 crore in the first six months of this fiscal as against Rs 6,267 crore, showing an increase of Rs 1,172 crore. The share of Central taxes went up to Rs 2,636 crore from Rs 2,105 crore, an increase of Rs 531 crore. The present Government has achieved a revenue surplus of Rs 1,714 crore as against a revenue deficit of Rs 1,200 crore last year.
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