Centre releases Rs 10,460.87 cr to state under SGFC

Vijayawada: After series of meetings of Chief Minister YS Jagan Mohan Reddy with Prime Minister Narendra Modi for release of financial assistance for development of the state, the Central government on Tuesday released Rs 10,460.87 crore as compensation towards revenue deficit. The funds were released as part of dues under the Andhra Pradesh Reorganisation Act, 2014.

Mahendra Chandelia, assistant director of ministry of finance directed that the release of Rs 10,460.87 crore be done immediately under the ‘Special General Financial Assistance’ (SGFC) category, as part of revenue deficit in the financial year 2014-15.

Expressing happiness over the grant of funds, advisor to the Government Sajjala Ramakrishna Reddy stated that this compensation had been given only due to CM Jagan Mohan Reddy’s efforts. He added that these funds were not only the right of the state government but also the responsibility of the Central government. He lauded the Chief Minister’s commitment and determination which had resulted in the Centre granting the state with such a huge sum.

Slamming TDP chief N Chandrababu Naidu, Ramakrishna said that the current development was a slap on the face of all those who questioned CM Jagan’s frequent trips to Delhi.

Calling out the failures of the TDP government, he said, Naidu during his rule had utterly failed to convince the Centre to release the rightful dues to the state.