New Delhi: Finance Minister Allocates Rs 15,000 Crore for Andhra Pradesh Development in Budget 2024-25
New Delhi, – Finance Minister Nirmala Sitharaman unveiled the Budget for 2024-25 today, allocating Rs 15,000 crore for the development of Andhra Pradesh’s capital city as mandated by the Andhra Pradesh Reorganization Act. The comprehensive plan aims to address longstanding commitments and challenges post-bifurcation.
Sitharaman assured additional funding for Amaravati’s development in the coming years and pledged support for the expedited completion of the Polavaram Irrigation Project, emphasizing its critical role in national food security. Funds were also earmarked for infrastructure in industrial corridors such as Kopparthy (Vishakhapatnam-Chennai) and Orvakal (Hyderabad-Bengaluru), along with grants for backward regions like Rayalaseema, Prakasam, and North Coastal Andhra.
“Our government remains committed to fulfilling obligations under the Andhra Pradesh Reorganization Act,” stated Sitharaman, highlighting the significance of these initiatives for the state’s development.
The Rs 15,000 crore allocation for this fiscal year will be supported through multilateral development agencies, with provisions for additional funding in subsequent years.
