Puducherry Chief Minister V Narayanasamy today accused the previous AINRC government of failure to strengthen the fiscal position of the union territory.
Due to this a majority of public sector undertakings were reeling under financial losses, he told the assembly.
"The undertakings had suffered loss to the extent of Rs 596 crores and we have to take effective steps to stabilise them and several of the cooperative undertakings here," he said.
The Chief Minister was responding to a contention of AIADMK (Amma) MLA A Anbalagan, who said the government should have presented a full-fledged budget instead of going in for interim allocation of funds through vote on account.
Narayanasamy said he had made representations to the Centre on the financial predicament of Puducherry and sought enhanced allocations under non plan head.
"I hope this plea would be conceded by Union Finance Ministry soon and we will be able to present a full fledged budget during April," he added.
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