Main Minister N Chandababu Naidu | Photo credit: the Hindu
Andhra Pradesh Prime Minister, N Chandababu Naidu, requested the 16th Finance Commission to increase the participation of states in central taxes (vertical return) from the current 41 percent to 50 percent.
CM Naidu said Wednesday that the proportion of horizontal return (distribution between states based on various criteria, including population and per capita income) had a constant decrease of 23.4 percent during the tenth finance commission, at 15.80. At 15.80.
Andhra Pradesh was financially loss in horizontal return with a lower participation in terms of GDP and population, he added.
Referring to the vision ‘Vksit Bharat’ planned by the center, the CM said that the states would have to play a vital role in the general development of the country.
Requesting the support of the State Finance Commission that has lost an important source of income from Hyderabad due to bifurcation, Naidu said that 75 percent of the financial resources of Telangana came from Hyderabad Solo and Andhra Pradesda -ally.
Swarnandhra vision
Highlighting the development initiatives of the state government, Naidu said that Swarnandhra Vision 2047 aimed to make Andhra Pradesh an economy of $ 2.4 billion with an annual growth of 15 % in the Gross Domestic Product (GSDP).
The objective was to obtain the current GSDP ₹ 18.25 Lakh Crore A ₹ 29.29 Lakh Crore for 2028-29, which would require a total investment of ₹ 40 Lakh Crore, according to Naidu.
He asked the Commission to recommend subsidies from the Center for the next development projects in the State, including the Pola Paramam project of the Pola Project with Banakacharla, the next ports and airports, world class convention center in Visakhapatnam and the five tourists, Tirpati, Tirpati, Tirpati, Tirpati, Tirpati, Ba Visakhapatnam, Araku and RAJAMAHENDRAVARAM.
Posted on April 16, 2025