New Delhi: Chief Minister K Chandrasekhar Rao on Tuesday sought a financial package of Rs 31,000 crore for Telangana State under the Backward Areas Development Programme as promised under the Andhra Pradesh Reorganisation Act. KCR, who participated in a meeting of NITI Ayog sub-committee on Centrally Sponsored Schemes in New Delhi, impressed upon its vice-chairman ArvindPanagaria to release the special package to support the developmental programmes taken up by the State in the backward areas.

The State government has proposed schemes worth Rs 31,000 crores for the assistance of NITI Ayog, which called for detailed reports on the proposals. The State has proposed Water Grid and Mission Kakatiya- two of its prestigious programmes as part of the package. Earlier, the Chief Minister met Union Finance Minister Arun Jaitely and urged that the Centre provide more room for market borrowings by the State by raising the cap to 3.5 per cent of its GDP under the Fiscal Responsibility and Budget Management (FRBM) Act.

KCR submitted a letter to the Finance Minister, insisting on the financial entitlement of Telangana that was recognised by the 14th Finance Commission as a budget surplus State. Taking up with him the notice slapped by the Income Tax Department on the Hyderabad Metropolitan Development Authority (HMDA) seeking payment of Income Tax, he wanted the urban development body to be exempted from its purview as it had no profit motive in its operations.

KCR said that the very policy should be reviewed and a provision should be made in the Finance Act, 2016 to retrospectively grant exemption to HMDA from Income Tax. He pointed out that the request made by the HMDA for exemption under section 10(46) of IT Act was rejected. He stressed the need for exemption as it would help promote the financial health of the urban development authority and similar institutions.

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