VIJAYAWADA: Union Finance Minister Nirmala Sitharaman on Tuesday announced Rs 15,000 crore financial support for the construction of Amaravati, the Capital of Andhra Pradesh.
The Finance Minister (FM) also said the Centre is committed to the completion of the Polavaram Project.
“We are recognising the State's need for a capital. We will facilitate financial support. Rs 15,000 crore will be arranged. We will provide an additional amount in future years,” Sitharaman announced in the Union Budget 2024.
She further added that the Centre is committed to the completion of the Polavaram Project, the lifeline of farmers, as per the AP Reorganisation Act.
Nirmala Sitharaman prioritised financial support and schemes for NDA-ruled states and Andhra Pradesh stood among them. The TDP joined the NDA and came to power in the recent elections.
The announcement came as a shot in the arm for the TDP-led NDA government in the State which announced its commitment to construct Amaravati Capital, which was ignored by the previous YSRC government.
At a time when the state government is finding it difficult to mobilise resources, the Centre's announcement came as a breather for the Chandrababu Naidu government.
Apart from Amaravati and Polavaram, Nirmala Sitaharaman also announced the Visakhapatnam - Chennai Industrial Corridor and Orvakal - Hyderabad Industrial Corridor for the development of the industrial sector.