Yanamala demands formation of Fiscal Council in State

It will ensure expenditure in tune with Budgetary allocations, he says

Telugu Desam Party (TDP) Polit Bureau member Yanamala Ramakrishnudu demanded that the government should form a State-level ‘Fiscal Council’ to streamline the finances, which were out of control, and also to ensure that the Budget rules were followed scrupulously.

In a statement on Monday, Mr. Ramakrishnudu said there was a gross mismatch between Budgetary allocations and expenditure incurred by the government on various heads. The government was often going for supplementary grants. As a principle, the supplementary grants should not cross 10% of the target. It was, however, crossed umpteen times.

The expenditure was made at the whims and fancies of Chief Minister Y.S. Jagan Mohan Reddy, he said, adding, the supplementary grants might exceed the original Budget allocations in future.