Hyderabad: Chief Minister K. Chandrasekhar Rao on Monday announced from the floor of the Assembly that the state government will raise additional funds through sale of government lands located in areas surrounding Hyderabad and also major cities, in a phased manner.
While presenting the budget, the Chief Minister said he regrets having to present the budget in view of the economic slowdown.
To overcome the fall in revenues due to the economic slowdown, the government has decided to raise additional funds though the sale of government lands.
He told the House that the relentless legal fight by the state government to free government lands from the grabbers and to clear several cases pending in the courts has started yielding good results.
Mr Rao said that the government could get back rightful ownership of land worth thousands of crores and it can raise additional funds through sale of these lands in a phased manner.
He told members that the government has decided to transfer these funds to the State Development Fund (SDF) to use to meet any contingency arising in any department for meeting the needs of the people.
He said, “Though there is fall in revenues due to economic slowdown, I am hopeful and optimistic that the situation will change for the better.”
