Chandrababu Naidu for Singapore model to improve revenue

Vijayawada, December 13:  Andhra Pradesh Chief Minister N. Chandrababu Naidu today asked officials to follow the procedures of Singapore government to improve revenue.

He said that Singapore government has been increasing its revenue by investing in foreign countries in addition to available economic resources.

Addressing a review meeting of officials of Finance department, the Chief Minister said every rupee should be counted in government expenditure.

Special chief secretary of finance Ajay Kallam informed the Chief Minister that they are carrying out financial transactions online. However they are facing some problems due to lack of coordination between treasuries, banks and Reserve Bank of India (RBI).

The official said that revenue came down by Rs 200 crore in November when compared to October. They said all bills were cleared as per budget sanctions.

The special chief secretary said the state government is likely to receive Rs 1000 cr from NABARD towards Polavaram project.

The Chief Minister said that there should be convergence in usage of funds by different departments. He asked the officials to see that interest rate should be low  for loans to be availed of from financial agencies.

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