The funds starved AP Chief Minister Chandrababu Naidu is on new high after the Supreme Court delivered a judgment last week on division of assets and deposits of institutions created in the erstwhile Andhra Pradesh between AP and Telangana State in the ratio of 58:42. Naidu did not waste time and met the Governor ESL Narasimhan on the occasion of Holi festival and urged him to ensure that Telangana complies with the apex court order. The court gave its verdict in the case pertaining to the erstwhile AP Council of Higher Education.
As per the AP Reorganisation Act, 2014, AP will get 58 per cent in the frozen accounts of various institutes located in Hyderabad. The SC told the Centre to complete the division of assets in the next two months. The AP government is eyeing more than 120 institutions listed in the IX and X schedule of the AP Reorganisation Act. According to HRD Minister Ganta Srinivasa Rao, AP government is likely to get more than Rs 70,000 crore in the form of bank deposits and value of immovable assets. It is estimated that there are about Rs 16,000 crore fixed deposits in different banks belonging to varsities, institutions, PSUs and co-operative bodies