Budget: FM announces ₹15,000 cr for development of Andhra Pradesh’s new capital

The finance minister also announced “necessary financial assistance” for the completion of the Polavaram major irrigation project on river Godavar

Hyderabad: Union finance minister Nirmala Sitaraman on Tuesday presented her seventh Union Budget, announcing Rs.15,000 cr for Andhra Pradesh’s new capital Amaravati. She said that the Centre would extend all help for the rebuilding of the state on all fronts.

Finance minister Nirmala Sitharaman with Union Budget portfolio (File Photo)

The FM said that the government will ensure all efforts to fulfil the commitments in the Andhra Pradesh Reorganisation Act. “Additional funds would be allocated to Amaravati as per the requirements,” she said.

The finance minister also announced “necessary financial assistance” for the completion of the Polavaram major irrigation project on river Godavari. Describing it as a lifeline of Andhra Pradesh, Sitharaman said the project would go a long way in helping the farmers and providing food security to the people. “We shall make efforts for the completion of the project at the earliest,” she said.

Similarly, funds would be allocated for the development of backward areas of Rayalaseema and north Andhra districts, besides the south Andhra district of Prakasam, she said.

The finance minister further announced special incentives for the establishment of industries in Andhra Pradesh, as promised in the AP Reorganisation Act, 2024.

She also announced funds for the development of the Visakhapatnam-Chennai industrial corridor and Hyderabad-Bengaluru industrial corridor.

“Funds have been allocated for the development of infrastructure facilities like highways, internal roads, water and electricity for Kopparthi and Orvakallu industrial estates as part of these two industrial corridors, respectively,” she said.

N Chandrababu Naidu-led Andhra Pradesh’s ruling Telugu Desam Party (TDP) is part of the National Democratic Alliance.