The Seemandhra people are seeing lot of opportunities and are happy that the entire region would now be developed as the focus would no longer be on Hyderabad. However, their latest concern is regarding the development of a new capital city. According to estimates by Seemandhra officers, the development of the new city is likely to cost Rs 2,00,000 crores. News is that the sum was disclosed at a high-level meeting held between officials and CM elect of Andhra Pradesh Chandra Babu Naidu.
One point to be noted here is that a new capital does not merely mean building of world-class buildings. A new capital needs to support and sustain social and financial growth. So, the officials are said to have briefed Babu that the aforementioned amount was mandatory.
Now that a figure has been finalized, the next problem is huge amount of loans running up to Rs 1 lakh crore that need to be settled by the state of Andhra Pradesh. Hence, there is growing concern about raising the requisite Rs 2 lakh crore for the capital city as the Central government too is unlikely to shell out such a huge amount or allocate at least a substantial amount.
The likely solution could be developing a public private partnership (PPP) model which will precipitate the growth process. And if that is settled, then the next problem is to decide between building a capital from the scratch or developing a capital between Vijayawada and Guntur.
