Amaravati infra investment will trigger huge economic activity: CRDA commissioner Ch Sreedhar

Sreedhar said that in normal circumstances, the year-on-year economic growth due to such massive projects like the capital city construction tends to be anywhere between 15 to 20 per cent.
CRDA commissioner Ch Sreedhar and others take part in a bicycle rally in Vijayawada (Photo| EPS)
CRDA commissioner Ch Sreedhar and others take part in a bicycle rally in Vijayawada (Photo| EPS)

VIJAYAWADA: Andhra Pradesh Capital Region Development Authority (AP CRDA) commissioner Ch Sreedhar said Rs  43,000 crore proposed to be invested by government on infrastructure in the first phase of development of Amaravati and Rs 8000 crore expected to come from private investors for setting up universities, hotels, and other economic activity, will lead to an economic activity to the tune of Rs 1 lakh crore in next 3-4 years in the capital region (old VGTM - Vijayawada Guntur Tenali and Mangalagiri region).

Addressing the session on “AP Capital - Present and Future Plans’ organized by Andhra Chamber of Commerce, here on Monday, Sreedhar said, “it is not only in Amravati but anywhere else, the money invested on infrastructure is bound to create double the economic activity.” “It is not limited to particular sections, but everyone in one form or the other would benefit and development happens,” he said.  The trickle-down effect of it has already started in Vijayawada and Guntur cities, he observed.

Sreedhar said that in normal circumstances, the year-on-year economic growth due to such massive projects like the capital city construction tends to be anywhere between 15 to 20 per cent. “Now it is up to us to see that the very objective of Amaravati  - to provide equal opportunities of growth to everyone in the world and help them own up the city and consider it their second home,” he said while seeking cooperation from the people in the region, especially from the business community.

Explaining the genesis of Amravati from the time farmers extended cooperation to the government in land pooling, he said like nowhere in the country in last 100 to 150 years, the progress of construction of Amaravati is happening at the fastest manner.  Citing the example of Hyderabad and its cosmopolitan culture, CRDA chief emphasised the need for similar open-minded and open-ended opportunities in Amaravati.  He said the Chief Minister and CRDA team visited different cities and analyzed situation there and are now adopting the best practices.

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