Cabinet nod for Rs 12,600 crore civic works in Andhra Pradesh

While 90 per cent of the funds will be procured through loans from national banks, the remaining 10 per cent will be adjusted by the State government under equity.

Published: 17th May 2018 05:08 AM  |   Last Updated: 17th May 2018 05:08 AM   |  A+A-

By Express News Service

VIJAYAWADA: The State Cabinet on Wednesday gave the administrative sanction for spending Rs 12,600 crore on developmental works in Urban Local Bodies (ULBs).The Council of Ministers met under the chairmanship of Chief Minister N Chandrababu Naidu at the Interim Government Complex in Velagapudi on Wednesday. It gave its approval for utilising the sanctioned funds for taking up works related to drinking water supply, drainage system, maintenance of toilets, storm water drainage, roads, burial grounds and parks.

While 90 per cent of the funds will be procured through loans from national banks, the remaining 10 per cent will be adjusted by the State government under equity. The staffing pattern will be 90% from a bank loan (Rs 11,340 crores) and 10% from the GoAP equity (Rs 1,260 crore). The financial modelling for the project is worked out considering the execution period as two years, with a rate of interest at 8%, repayment period of 15 years. 

 The annual repayment burden on GoAP will be Rs 950 crore for 13 years. 
The Cabinet also approved power of attorney to Amaravati Development Corporation (ADC) and CRDA for developing 6.84 square km start-up area in Amaravati.

The meeting also gave nod for the M Parks 2018-23 policy aimed at setting up MSME parks in every Assembly constituency. Each M Park will contain investments to a tune of Rs 225 crore with at least MSMEs and will provide employment to at least 1500 people. The state government wants to set up 200 M Parks across the state to facilitate employment to 3 lakh people after attracting investments to a tune of Rs 45,000 crore.

203 Anna Canteens to be set up at an estimated cost of Rs 80 crore
Canteens to come up in 71 municipalities
One canteen to be set up at Undavalli under the purview of CRDA
Committees to be formed for maintenance of Anna Canteens
2 kg red red gram to be supplied to white ration card holders at Rs 40 per kg every month
Rs 131 crore required for the purpose to be given to the Civil Supplies Department
After procuring red gram at Rs 63.75 subsidy, the government will bear Rs 24.30 per kg towards subsidy

Boat tragedy: CM pulls up ministers, officials
Chief Minister N Chandrababu Naidu is learnt to have expressed his ire over ministers and officials over the boat mishap in River Godavari.

Stating that there is no use taking steps after accidents, he sought to know why the committee appointed to inquire into boat mishap in Krishna district is yet to submit its report.
He asked the ministers and officials to be proactive and underscored the need for adopting the best procedures followed in other countries to avoid watery graves.

Nod for AP Motor Vehicles Taxation Draft Ordinance 2018 removing life tax on e-rickshaws, e-carts, autorickshaws (capacity not less than 4 passengers). Owners of the said vehicles can pay the tax once in three months and in a year.
Nod for AP Electric Mobility Policy 2018-23 to attract manufacturers of electric vehicles, advanced batteries and charging units by giving them incentives
Regularisation of the services of 32 non-Mirasi priests working with Tirumala Tirupati Devasthanam
Director of Ports, Kakinada, allowed to hand over 1,000 acres water body land for Krishnapatnam port development
Government to continue guarantee to Farmer Empowerment Corporation for another year on Rs 1,000 crore loan it availed
149 life convicts to be freed from prisons
Guarantee to be given for AP Raod Development Corporation to avail Rs 1,000 crore loan

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