Nirmala Sitharaman announces Rs 15000 Cr for AP Capital Construction
July 23, 2024 14:34
(Image source from: Twitter.com/PIB_India)
The Union Finance Minister, Nirmala Sitharaman, has presented her seventh consecutive budget, and she announced that Andhra Pradesh will receive Rs15,000 crore to aid in the development of its capital. This announcement comes as a response to a key demand from the state government, which had previously sought a grant for the construction and development of Amaravati as the sole capital of Andhra Pradesh. The Centre recognizes the state's need for a capital and has pledged to facilitate support through multilateral development agencies. Sitharaman stated that the government will arrange for Rs15,000 crore during the current fiscal year and in future years for the capital city's development. It is worth noting that the city of Hyderabad had been serving as the common capital of Andhra Pradesh and Telangana for 10 years following the bifurcation of Andhra Pradesh in 2014, but on June 2nd of this year, it ceased to be the capital of Andhra Pradesh.
Our government has made concerted efforts to fulfill the commitments in Andhra Pradesh Reorganization Act. Recognizing the state's need for a capital, we will facilitate special financial support through multi-lateral development agencies.
— PIB India (@PIB_India) July 23, 2024
In the current financial year,… pic.twitter.com/spsF0RTVZG
The new Andhra Pradesh government has decided that Amaravati will serve as the sole capital of the state, abandoning the previous administration's plan for a three-capital system. Under the previous proposal, Visakhapatnam was designated as the executive capital, Amaravati as the legislative capital, and Kurnool as the judicial capital. The current chief minister Chandrababu Naidu who heads an NDA-led government, has met with Home Minister Amit Shah and advocated for "substantial fund allocation" in the Union Budget to address the state's financial difficulties. This marks a departure from the previous government's approach and signifies a shift in the state's administrative and development priorities. This is a great news for the people of Andhra Pradesh as the Centre would support the construction of a world class capital under the administration of Chandrababu Naidu and Pawan Kalyan.