CBN centre funding

Andhra Pradesh Chief Minister Nara Chandra Babu Naidu is seeking a compensation of 13.2 Lakh Crore from the Central government for losing Hyderabad which generates two-thirds of revenue for the state. According to the calculations of AP government, since 1956 in the United state the Centre had invested Rs 1.4 lakh crore in Hyderabad, the AP government Rs 5.89 lakh crore and the private sector Rs 6 lakh crore which amounts to 13.2 Lakh Crore.

45 lakh people from different parts of the state and the country migrated to Hyderabad and Ranga Reddy districts. As a result, these two districts contributed the lion’s share of Rs 34,100.73 crore in total 70,548.27 crore revenue whereas the entire coastal Andhra and Rayalaseema put together contributed Rs 21,538.94 crore.

Naidu will explain the Center how the new Andhra Pradesh can not sustain with out the revenue of many companies and institutions have made the city their headquarters and paying income tax and also remitting other taxes in Hyderabad thus leaving no scope for the new AP state to get any additional income.So, he will be demanding the 13.2 lakh crore compensation from Center.