Section 9 in THE ANDHRA PRADESH STATE DEVELOPMENT CORPORATION ACT, 2020
9. Financing to the Corporation -
Subject to the provisions of this Act and the rules and regulations made there under:(a)Government shall identify and allocate to the Corporation, various socio-economic projects or schemes of the Government to arrange funding and financing;(b)Government shall identify requisite resources comprising of existing revenue streams and new revenue streams though levying of cess, development cess, fees, charges, etc. as applicable and assign these revenues to the Corporation to raise financing and fulfil its objectives, subject to clause (c) below, once assigned, for the purpose of raising financing, such identified revenue sources shall not be used for any other purpose;(c)In case, the Government cancels or reduces the assigned revenue streams or there is any shortfall in the assigned revenuesfor meeting the debt servicing obligations of the Corporation, Government shall assign alternative revenue streams to meet the committed financing and debt servicing liabilities of the Corporation or alternatively the Government shall take over the financial and debt servicing obligations of the Corporation.
