Andhra Pradesh government will come out with a special financial package for the middle class sections of the society who have been severely affected by the cyclone mainly in Visakhapatnam city. Finance minister Yanamala Ramakrishnudu said the package was being worked out. The minister, who on Wednesday flew into Hyderabad in a special aircraft along with Union urban development minister Venkaiah Naidu to meet the RBI governor Raghuram Rajan, left for Vizag immediately after his meeting on Wednesday.
The minister left by train as air services are yet to be restored in Vizag. During an informal talk, Mr Ramakrishnudu, who along with AP Chief Minister N. Chandrababu Naidu, is extensively travelling and monitoring relief operations in the cyclone-hit districts, said, “Every resident of Vizag city has been affected by Hudhud in one way or the other. You cannot single out any family that has not been affected. Unlike industries and other government institutions, these middle class families do not even have insurance coverage. They need government help. The AP government is working out modalities of a special package.”
He added that individual residential and commercial buildings, apartment complexes were shaken by the storm and many buildings had developed cracks. Some buildings had even reportedly sunk into the ground by a few centimeters.“We have to also assess the structural stability of the buildings that have developed cracks and those that shrunk,” he said.
The government is trying to list the damage caused to the properties of various sections of people. Once the list is finalised, the government will come out with a comprehensive package for the middle class sections.The state government team also discussed the need for strengthening the Depositors’ Protection Act by bringing in necessary amendments. “We told Mr Rajan that we were ready to amend the Act to protect the interests of small-time borrowers,” Mr Ramakrishnudu said.
He added that the RBI governor had appreciated the comprehensive financial management system being implemented in the state finance department. Mr Rajan had also noted that the e-payment system being implemented by the AP government was a model for the entire country, the minister pointed out.