The state of Andhra Pradesh is set to receive approximately 280,000 crore in central funds through various projects, with further allocations expected through central schemes. Speaking to the press in Guntur, Union Minister of State for Rural Development, Pemmasani Chandrasekhar, highlighted the unexpected allocation of 15,000 crore for the construction of Amaravati’s capital, signaling a shift in funding trends. This budget cycle has seen a favorable outcome for Andhra Pradesh, as it joins the roster of states receiving special funds for infrastructure and development in the eastern region.
Pemmasani noted a recent clarity in fund disbursement from the Centre, particularly acknowledging the significant support of 15,000 crore for Amaravati following the change in state leadership. Notably, substantial funding is anticipated through railway allocations in the budget, further boosting the state’s development prospects. Minister Pemmasani commended the Modi government for its economic performance, citing a rise in GDP to 8.2% for FY 2023-24 from 3.9% in FY 2019-20. The fiscal deficit, which stood at 9.2% of GDP in 2021, has shown improvement, declining to 5.6% by 2024.
Leave a comment