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The global financial crisis has begun to affect the Government’s ability
to raise funds for its prestigious Jalayagnam projects. The HUDA auctions
that were expected to fetch approximately Rs. 12,000 crores in the current
fiscal are likely to report a 70% deficit in the collections. According to
sources close to the CMO, Dr YSR is reportedly expressing concern as to how
to bridge this shortfall. Inaugurating a daily water supply scheme from
Marredpally to approximately 3.50 lac connections in the City, the CM
expressed concern about rapid urbanization, which he opined was beginning
to have an adverse impact in the social fabric of the society. The farmers,
he stated, have to be supported so that the Country can become self
sufficient and will develop better resistance to such economic crisis. The
CM however assured that all the projects will be implemented as scheduled
and that the government will not go back on its promises.
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