Date: November 12, 2024
AP Budget 2024: Boost for Amaravati’s Development
Boost in Budget for Amaravati’s Growth
The Andhra Pradesh government, led by the NDA, has announced its new budget. This time, a significant focus is on the capital city, Amaravati. After years of stagnation, the latest budget shows the government’s commitment to reviving the region. AP Budget has allocated ₹3,445 crore for various development projects in Amaravati.
AP Budget 2024: Detailed Breakdown of the Budget Allocation
The allocated budget covers several critical areas:
- ₹3,000 crore will go towards improving basic social infrastructure. This includes roads, water supply, and electricity.
- Another ₹400 crore is for helping Amaravati farmers. These funds will be used to pay interest on loans taken by the farmers who gave their land for the capital’s development.
- The Amaravati Smart City project will receive ₹32 crore. This aims to transform the city into a tech-savvy, eco-friendly urban center.
- Finally, ₹13 crore is set aside to complete the AP High Court building, ensuring the region has a robust judicial facility.
AP Budget 2024: Additional Support from Funding Agencies
Amaravati is not just relying on state funds. It has also received international and national financial backing:
- The World Bank has pledged ₹15,000 crore for various projects.
- HUDCO (Housing and Urban Development Corporation) will provide another ₹12,000 crore.
- These funds will cover essential areas like housing, transport, and environmental projects.
Officials held meetings in Delhi to finalize these funding agreements. The transactions are expected to proceed without any delays.
Next Steps: Amaravati’s Growth Plan
The CRDA (Capital Region Development Authority) has estimated that the next phase of Amaravati’s development will need an extra ₹50,000 crore. Currently, ₹27,000 crore is coming from the World Bank and HUDCO. The state aims to secure the remaining amount through its budget, central support, and loans.
The government’s focus is on speeding up construction, creating jobs, and boosting investor confidence.
A New Chapter for Amaravati
Amaravati faced delays and setbacks from 2019 to 2024. But now, there renewed energy in the city’s development. The government is committed to turning Amaravati into a vibrant, sustainable capital city. This will not only serve Andhra Pradesh but also set a benchmark for urban development across India.