VIJAYAWADA: Union Finance Minister Nirmala Sitharaman on Friday termed the foundation stone laying for head offices of 15 banking and insurance institutions in Amaravati a “red-letter day,” stating that the initiative could serve as an ideal model for future capital cities in the country.
Speaking at the foundation stone laying ceremony, she said restarting the construction of Andhra Pradesh’s capital was a moment of great satisfaction. She observed that the construction of a new capital city is never a routine exercise, and requires sustained commitment, vision and financial assurance.
“Prime Minister Narendra Modi is personally supporting the resumption of Amaravati’s construction works,” she said.
Describing Amaravati’s development as a collective endeavour, she likened it to a yagna, involving sacrifice and contribution from all stakeholders. The decision to locate the headquarters of 15 banks and insurance companies in Amaravati is aimed at creating a robust financial ecosystem for the capital. Establishment of major PSU headquarters together in the proposed Financial District will enhance coordination and institutional strength, she said.
Focusing on agriculture, Sitharaman emphasised that the sacrifices made by farmers who contributed land for the capital should never be forgotten. Calling upon banks to ensure that such farmers do not face any hardship, she urged them to extend financial assistance beyond Kisan Credit Card loans, covering agriculture, horticulture and allied sectors for sustainable growth.
Referring to the Purvodayam Scheme, she appreciated the Andhra Pradesh government’s plans for the development of Rayalaseema and Prakasam districts. The Centre would extend support for the proposed development plans in nine districts under the scheme, for which the State had drawn up projects worth nearly Rs 39,000 crore, including roads, irrigation and horticulture-related infrastructure, she said.
Citing example of horticultural produce such as bananas from Maharashtra being transported by trains to major markets like Mumbai and Delhi, she said similar system should be promoted for Rayalaseema.