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Rich State Neck Deep In Loans: Rti Query


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Posted

adhenti nakka plan andhukey murali mohan tho akkada site lu konipinchaadu annaru antha die.gif antey murali mohan NJR manishaa 

 

dano venakala kuda pedda story unnadi..

 

early ninties lo, first company india ki vachindi Texas Instruments, TX delegation mana (NJR or KBR then CM) kalavaniki CM office pote, sir lunch taruvata nap estunnadu anta edo compass tayaru chese vallu anukoni wait chepinchinru anta, vadu velli bangalore pettinadu company , vani choosi enko 10 companies vachinayi like cisco, seimens, nortel etc..hence forth bangalore went on to become the silicion valley of India..Hyd never was able to catch it and most of the early companies in bangalore are silicon and fab companies like AMD, Intel etc, when CBN came in as CM, the IT and outsourcing was just begining to ramp up, that is where he drove a home run by getting companies like microsoft etc and other IT majors followed, that way Hyd retained the IT crown...also in the process, he has done his usual thing with murali mohan

Posted

super as usual ga expected disco loki vachindhi.. nakka cheyaledhaa appu , nakka thinaledha pappu.  die.gif

Posted

dano venakala kuda pedda story unnadi..

 

early ninties lo, first company india ki vachindi Texas Instruments, TX delegation mana NJR kalavaniki CM office pote, sir lunch taruvata nap estunnadu anta edo compass tayaru chese vallu anukoni wait chepinchinru anta, vadu velli bangalore pettinadu compant , vani choosi enko 10 companies vachinayi like cisco, seimens, nortel etc..hence forth bangalore went on to become the silicion valley of India..Hyd never was able to catch it and most the early companies in bangalore are silicon and fab companies like AMD, Intel etc, when CBN came in as CM, the IT and outsourcing was just begining to ramp up, that is where he drove a home run by getting companies like microsoft etc and other IT majors followed, that way Hyd retained the IT crown...also in the process, he has done his usual thing with murali mohan

 

inthaki hitech city plan NJR dhaa nakka dhaa?, murali mohan NJR binaami or bob binaami?

Posted

super as usual ga expected disco loki vachindhi.. nakka cheyaledhaa appu , nakka thinaledha pappu.  die.gif

 

GP

Posted

This is how Nakka impressed World Bank back then....with his Bichhapu muunda vyavaharam...

 

 

 

The AP controversy

Tuesday, January 02, 2001

 

THE VISIT of the World Bank President, Mr. Wolfensohn, to Andhra Pradesh in early November was marked by media hype and political controversy that could have been avoided. While Mr. N. Chandrababu Naidu, Chief Minister of Andhra Pradesh, perhaps meant well in according a reception on a grand scale to a fund dispenser, he could have heeded the reported advice of his cabinet colleagues on protocol and avoided appearing so fawning on the World Bank chief. The Opposition, Congress and the Leftists, could have desisted from personalised attacks on the chief executive of the State and concentrated with dignity on some substantive aspects of the high outstanding debt of Andhra Pradesh.

A properly argued case against the State falling into debt trap would have been in order, both politically and economically. The Chief Minister for his part needs to examine the long-term implications of the increasing quantum and cost of public debt. It is well known that the State Government has argued before the Eleventh Finance Commission that in respect of Central loans, repayments account for 86 per cent leaving as little as 14 per cent for developmental expenditure.

Mounting public debt

The State Government faces a major problem by way of mounting public debt, increasing cost of fresh borrowing and the burden of interest growing faster than revenue augmentation. In 1990-91, the State's outstanding debt was Rs. 6,815 crores with the average rate of interest working to 10 per cent and the total interest payment accounting for 16.2 per cent of State's own revenue. In 1994-95, just before Mr. Naidu took over, the outstanding debt was Rs. 13,005 crores, the average rate of interest 11.4 per cent and interest payment accounted for 24.3 per cent of State's own revenue.

In the next five years, outstanding debt has doubled to Rs. 27,845 crores (1999-2000), the average rate of interest has increased to 13.5 per cent with interest payment devouring 29.4 per cent of State's own revenue. The Andhra Pradesh budget for 2000-2001, presented in August 2000, places the outstanding debt year-end at Rs. 34,116 crores. With the State's tax revenue estimated at Rs. 10,756 crores, and non-tax revenue at Rs. 2,980 crores, interest and debt servicing payment at Rs. 4,046 crores will be 29.5 per cent of State's own revenue. In six years, the eager beaver Mr. Naidu has added about Rs. 21,000 crores to the Andhra Pradesh's outstanding debt which had, in the previous four decades, crept up to Rs. 13,005 crores.

If the politicians of the State have not covered themselves with glory, the visitor Mr. Wolfensohn could not have done worse, than perpetrating a prevarication in public, in regard to the conditionalities of the World Bank credit to Andhra Pradesh and having a public gibe at his host's expense. An examination of the issue of conditionalities from the available records does not bear out the public denials of the Chief Minister and the World Bank chief. A few years back, the Press Trust of India report spelt out the conditions, imposed by the Bank's negotiators. Should this not be considered authentic, Mr. Wolfensohn, who is now back in Washington, should have all the time, to peruse copies of the World Bank Documents (a) India, Andhra Pradesh - Agenda for Economic Reforms (Report No. 15901-IN) dated Jan. 16, 1997 (Country operations, Industry and Finance Division, Country Department II, South Asia region) and ( B) Project Appraisal Document titled ``A Proposed Credit in the amount of SDR 179.4 (US $241.9 millions equivalent) and a proposed loan in the amount of US $ 301.3 millions to India for an Andhra Pradesh Economic Restructuring Project,'' (Report No. 17710-IN) dated May 28, 1998 from the Poverty Reduction and Economic Management Unit.

The ``critical risks'' highlighted by the second report include ``possible strong opposition to politically sensitive aspects of reform such as more effective targeting of the rice subsidy, staff rationalisation, privatisation, closure of unviable public enterprises and more effective collection of user charges. The risk is heightened by the fact that the State elections are due by November 1999, at the latest and that in the run up to any election, such changes would act as a focal point for the opposition.'' The risk minimisation measures proposed indicate that ``the MTR (Mid Term Review) would be timed to allow for a significant review of the reform progress in the post-election period and for a reappraisal of GoAP's commitment to it. Wide scope would exist for restructuring the project or even discontinuing it in the event of negative political development or for enhancing the Bank's support in the event of highly positive outcomes...''

`Long dialogue'

The second document also stated that ``with regard to internal conditions of the project, the long dialogue between the Bank and GoAP on the nature and content of the APERP, especially the need to link investment with fiscal reforms, gives confidence that, after allowing for political risks, there are few, if any, outstanding which could be of serious consequence during project implementation.'' The Document proceeds to list the Main Loan Conditions of Negotiation which included, ``(a) requirements for establishing management structures for all sectoral components, and project as a whole, ( B) receipt by the Bank of satisfactory PIPs for each component, (c) passage of the Power Sector Reform Bill in the State Assembly (d) receipt by the Bank of the Agreed letters of Development Policy, (e) approval of an Irrigation Sector Policy Statement and (f) approval of Technical Assistance for preparation for introduction of a VAT in the State.'' Mr. Wolfensohn should clarify what do `long dialogue' and `internal conditions' of project imply if not pressures for acceptance of conditions suggested by the World Bank.

 

Mr. Chandrababu Naidu, who has definitely emerged as a hard working elected Chief Minister, initiating several steps of economic reform, has been hard pressed in defending his approach to the World Bank. While the State Government's financial position is not happy and its access to local resources very limited, borrowing seems an unavoidable option. Current debate appears to be over not whether the State should borrow or not, but over the cost and terms of borrowing. The terms Andhra Pradesh Chief Minister conveyed to the World Bank vide his long communication D.O.L. 1151/FS/Fin/CMP/98 dated May 14, 1998, refers to `The Reforms Agenda ahead' and makes commitments on steps ``to be implemented over the next five years.'' Should Mr. Naidu have made such commitments for five years when his tenure had at that time, just a year more to run? The then Finance Secretary who advised him in making the commitments that bound the Government and the legislature, well beyond their elected terms is now happily away on a World Bank assignment!

In response to the CM's presentation on Global Institute of Governance in the Information age, Mr. Wolfensohn is reported to have said ``I do not know anything about the application of internet technology nor do you know much about it. But I should not say this in your home State, as I would be locked up in this place.'' (TheHindu, Nov. 10). The World Bank chief was echoing a statement made some months back by a Minister from Switzerland, to whom Mr. Naidu had extended an invitation at the WEF meeting at Davos. If the Chief Minister's emphasis on IT gets complimented thus by his privileged foreign guests, we also have the home spun Lalooji Yadav asking, ``If there is any truth in the benefits of IT, why do farmers commit suicide and why are power rates high in Chandrababu's highly successful IT Pradesh.'' Gibes apart, questions on priority accorded to information technology and power point presentations appear to be relevant when set against the ground realities of Andhra Pradesh. If that is past, Mr. Naidu needs, in future, to guard against his own dignity and the dignity of his public office being compromised by public gibes by visitors - be it an invitee Minister from Switzerland or for that matter the President of the World Bank. Remarks, appearing casual and humorous, are quite pointed and those made by Mr. Wolfensohn on the knowledge of Chief Minister in the internet technology are just not in order. The people of Andhra Pradesh and Naidu's well wishers have a reason to feel hurt when the visitors courted by the Chief Minister and entertained at State's expense make light of his serious expositions.

 

 

Paina already cheppa.. idgigo idhi proof.. lol crazy ppl kontha mandi ee db lo  :3D_Smiles_38:  :3D_Smiles_38:

Posted

inthaki hitech city plan NJR dhaa nakka dhaa?, murali mohan NJR binaami or bob binaami?

 

Cyber towers ki foundation vesindi NJR.

 

Murali mohan ki lands cyber towers ki chala duramulo unnayi, basically CBN extended the infra around it.

 YSR just mastered that art, he made his people buy lands before announcing any major project

Posted

Cyber towers ki foundation vesindi NJR.

 

Murali mohan ki lands cyber towers ki chala duramulo unnayi, basically CBN extended the infra around it.

 YSR just mastered that art, he made his people buy lands before announcing any major project

mastered emundhi ley adhi valla naizam, nakka mudokantiki theliyakudadhu anukuntaadu so reasonable ga chesthaadu rajanna evadu em peekuthaadu ley ani direct ga chestha antaadu. vallu perigina vaatharanam valla ala influence chesaayi

Posted

ckr ki manchi poti isthunnavu gaa aa highlight cheyadam aa smiles same to same

RT-12.gif

 

Posted

so 40% credit KCR ki potundhi antava ipudu @3$%..

em cheppalanukunnav em chepppav :o
Posted

em cheppalanukunnav em chepppav :o

 

neku artham ayyi natistava? :o

Posted

super as usual ga expected disco loki vachindhi.. nakka cheyaledhaa appu , nakka thinaledha pappu.  die.gif

Brahmi-14.gif  

Posted

last ki CBN and Androla kutra valla Appu chesam ani end chesaru anamta asusual ga Brahmi-14.gif 

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