Tuesday, July 22, 2014

Squandering away assets for loan Waiver improper: Loksatta

The Andhra Pradesh Government should make budgetary allocation for fulfilling its loan waiver promises but not resort to sale or mortgage of its assets or pledge its future revenue to raise resources, said Andhra Pradesh Loksatta Party President D. V. V. S. Varma here today.

In a media statement, Mr. Varma faulted Chief Minister N. Chandrababu Naidu for planning to sell red sanders and tapping revenue from mining of sand and scarce minerals to implement his election-eve pledge to write off loans.

The Government should endeavour to build upon its assets and not fritter them away for programs like loan waivers. It should find budgetary resources by cutting down on non-Plan and wasteful expenditure, arresting leakages in tax collection and applying brakes on populist schemes. The future of Andhra Pradesh will be in jeopardy if the Government gambles with its assets, warned Mr. Varma.

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