VIJAYAWADA: “Andhra Pradesh is embarking on a new phase of economic transformation, driven by large-scale investments, infrastructure development, regional economic hubs and welfare programmes aimed at creating jobs, enhancing incomes and making the State a globally competitive investment destination,” says Chief Minister N Chandrababu Naidu.
Giving details of the progress report and financial situation of Andhra Pradesh during 2024-26 through a PowerPoint presentation at the Secretariat on Tuesday, the Chief Minister said the State has secured investment commitments worth Rs 23 lakh crore, while projects valued at Rs 11.37 lakh crore have already been grounded, laying the foundation for nearly 10 lakh jobs.
The government has fast-tracked the construction of Amaravati with secured funding of Rs 40,887 crore, and expedited the Polavaram Irrigation Project with the aim of dedicating Phase-I to the nation by March 2027, he said.
The proposed Amaravati Economic Region, Visakhapatnam and Tirupati Economic Regions are expected to attract investments of over Rs 20 lakh crore, and create around 20 lakh job opportunities.
He announced an integrated horticulture development plan worth Rs 1 lakh crore for Rayalaseema. Stressing that welfare and development are complementary, Naidu said the government has spent Rs 1.49 lakh crore on welfare schemes while simultaneously investing in roads, ports, airports, irrigation, industries and digital infrastructure to ensure sustainable and inclusive economic growth.
The Chief Minister said everyone should associate and extend their cooperation to achieve a 15 per cent growth rate to establish a healthy, wealthy and happy Andhra Pradesh.
‘Coalition govt committed to growth of all regions’
“It is the duty of the government to explain to people the progress of the State. The NDA government is committed to development of all the regions focusing on decentralisation of development on one hand, and implementing welfare schemes simultaneously through wealth creation,” he said.
Citing the example of overwhelming response from people during the recent Bhogapuram airport inauguration, Naidu said the airport will serve as a growth corridor of North Coastal Andhra, and the tremendous response from the public reflected the result of good governance.
After bifurcation, Andhra Pradesh achieved a GSDP growth of 13.5 per cent during 2014-19. As the GSDP growth rate came down to 10.3 per cent during 2019-24, it resulted in GSDP loss of `6.94 lakh crore. If the same growth rate of 13.5 per cent continued, AP would have got an additional revenue of Rs 76,195 crore, he explained.
Naidu said the previous regime started with stalling Amaravati capital works, delaying Polavaram leading to diaphragm wall damage, and causing a setback to investments with worsening law and order situation.
The maladministration led to inherited debt and liabilities to the tune of `9.74 lakh crore pushing the State into a debt trap.
The Chief Minister said the NDA government adopted a multi-pronged strategy for revival of the debt-ridden State by focusing on clearing pending liabilities, ensuring welfare, fulfilling promises and focusing on development, and investments along with good governance.