VIJAYAWADA: The State Planning Department on Monday signed a Memorandum of Understanding (MoU) with the Institute for Financial Management and Research (IFMR), operating under Krea University, to support the implementation of 10 guiding principles of Swarna Andhra Vision 2047.
Planning Department Principal Secretary Piyush Kumar and IFMR representative Kapil Viswanathan exchanged the copies of agreement. As part of the collaboration, IFMR will oversee the implementation of the programme, and support the establishment of Mission Cells to achieve Gross State Domestic Product (GSDP) targets and higher growth rates.
Chief Minister N Chandrababu Naidu reiterated that Andhra Pradesh had set an ambitious target of achieving 15% growth rate as part of Swarna Andhra Vision. The State had achieved a Compound Annual Growth Rate of 13.5% between 2014 and 2019, while the current growth rate stands at 11%.
IFMR will work with the Government of AP on key initiatives, including Zero Poverty, Water Security and Deep Tech Missions. A State-Level Committee and Mission Working Groups will also be set up to monitor the implementation of 10 principles.
The Chief Minister said the government is integrating deep technologies across various sectors to accelerate development in the State.
Minister for Finance Payyavula Keshav, representatives of KREA University and IFMR were present.