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Finance Minister announced to sell away IMG Bharata land

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Finance Minister announced to sell away IMG Bharata land

850 acres of land will fetch Rs. 5000 crore

Hyderabad, March 1, 2007

The Finance Minister, K. Rosaiah said that the State will sell the land of 850 crore allotted to IMG Bharata that was allotted by the previous Government. According to him it will fetch nearly Rs. 5,000 crore to fund the State's plan for the next financial year. He said another Rs. 3,500 core would be raised through the sale of other lands in the city and elsewhere. The funds will be utilized for schemes under annual plan which has an outlay of Rs. 32,973 crores.

Finance Minister has the suggestion of K. Pratap Reddy of TRS that the proceeds of the lands sold in Telangana would be spent only projects in the region. He denied the charges of the opposition that plans to increase the number of liquor shops in the State. The Rs. 700 crore increase in Excise revenue was proposed to be achieved by checking smuggling from other States.

He assured the House that no fresh tax burden would be imposed on the common person during the financial year. He said that public would display the financial position on the Government website every month for scrutiny. He announced that the plans are there to enhance the old age pension and health insurance scheme to Rs.2 lakhs.

Andhra Pradesh on March 1, 2007

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Finance Minister announced to sell away IMG Bharata land
850 acres of land will fetch Rs. 5000 crore

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CM explains about 50 SEZ and product-specific parks

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March 1 in History

Events and happenings on 1 March in History

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1 March 2002
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1 March 2003
Highlight: State BJP to ask centre for considering reduction of Fertilizers and Urea prices

1 March 2004
Highlight: Durgam Madanaiah killed in encounter

1 March 2005
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1 March 2006
Highlight: Satyam to set up operations in China

1 March 2007
Highlight: Finance Minister announced to sell away IMG Bharata land

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