A day after the presentation of the Union budget by finance minister Nirmala Sitaraman in Lok Sabha on Tuesday, there is some clarity on how much Andhra Pradesh has got in the budget for the year 2024-25.
A compilation of budgetary allocation made by financial analysts indicated that the Centre has made allocations to the extent of Rs 65,000 crore for Andhra Pradesh in the current financial year.
The ambitious allocations are aimed at propelling the all-round development of Andhra Pradesh.
With a strong emphasis on infrastructure, industrial growth, social welfare, and environmental sustainability, these allocations underscore the government's commitment to enhancing the state's economic landscape and improving the well-being of its populace, a report said.
The significant aspect of the budget is the allocation of Rs 15,000 crore for the development of Amaravati capital city. The union finance minister said the money would be arranged through the World Bank loan, but a significant portion of it would be grant.
“Since the financial position of the state is bad, the Centre will work out how to bear this burden,” she said.
Sources said even the loan portion will be a long-term one, which can be repaid only after 30 years.
Though Nirmala Sitaraman did not mention the quantum of amount to be released for the Polavaram project, later it was revealed that an amount of Rs 10,000 crore has been earmarked for the Polavaram Irrigation Project.
Similarly, the budget has allocated Rs 6,000 crore towards augmenting road infrastructure, including the construction of new highways and expressways; Rs 5,000 crore each for furthering industrial development at Kopparthy node within the Visakhapatnam-Chennai Industrial Corridor and Orvakallu corridor of Hyderabad-Bengaluru corridor.
Addressing housing needs, Rs 12,000 crore has been allocated under the PM Awas Yojana for the construction of affordable housing units across rural and urban areas.
Another Rs 4,000 crore has been allocated for development grants targeted at uplifting backward regions such as Rayalaseema, Prakasam, and North Coastal Andhra.
In the realm of education and healthcare, Rs 2,500 crore has been allocated for establishing new medical colleges and educational institutions and another Rs 3,500 crore for promoting renewable energy projects.
Besides, under the Jal Jeevan Mission, Rs 2,000 crore has been allocated to provide clean drinking water and sanitation facilities in rural areas.
