Centre to provide Rs 80,000 cr for various projects in AP: Pemmasani

Union Minister of State, Pemmasani Chandrasekhar, announced significant financial support from the Central government for Andhra Pradesh, including Rs 15,000 crore for the construction of Amaravati as the State capital. He emphasised the Centre’s commitment to fully funding the Polavaram project, a critical lifeline for the State. Additionally, he mentioned that around Rs 80,000 crore will be allocated to various projects in the State, with more funds expected through Central schemes.
Speaking to the media in Guntur on Sunday, the Union Minister highlighted that Andhra Pradesh is among the states receiving substantial funds for infrastructure development, particularly in the eastern regions of India.
MP Chandrasekhar praised the Modi government, noting the increase in GDP to 8.2% for FY 2023-24, up from 3.9% in FY 2019-20. He also highlighted the reduction in the fiscal deficit from 9.2% of GDP in 2021 to 5.6% in 2024, a drop in inflation to 5.4% by 2023 from 6.2% in 2020, and a decline in Non-Performing Assets (NPA).
“For employment opportunities, the Central government plans to invest Rs 2 lakh crore to support 4.1 crore youth over the next five years, including the development of 1,000 Industrial Training Institutes (ITIs). The establishment of Micro, Small, and Medium Enterprises (MSMEs) will be facilitated through a credit guarantee scheme, allowing loans of up to Rs 100 crores without a mortgage. Additionally, Mudra Loans have been increased from Rs 10 lakh to Rs 20 lakh. Internship opportunities in 500 mega industries will be provided for one crore youth over the next five years, with a stipend of Rs 6,000 initially and Rs 5,000 per month thereafter,” he stated.
Regarding the Union Budget allocations for Andhra Pradesh, MP Chandrasekhar noted the following: Rs 2,500 crore for railways, Rs 12,000 to Rs 15,000 crore for the construction of an outer ring road, Rs 15,000 crore for Amaravati Capital construction, and Rs 30,000 to Rs 40,000 crore for Polavaram. Funds have also been allocated for the development of backward districts, the Kopperti Node in the Visakhapatnam-Chennai Industrial Corridor, and the Orvakallu node in the Hyderabad-Bangalore Industrial Corridor. Prakasam district, Rayalaseema, and Uttarandhra (North Andhra) have been identified as backward districts requiring additional support.
Dr. Chandrasekhar also outlined plans for industrial development in India, including the establishment of fully equipped industrial parks in 100 cities and the development of 12 National Industrial Corridors. Two industrial corridors in Andhra Pradesh will be developed under the Andhra Pradesh Reorganisation Act. Furthermore, funds have been allocated for the construction of roads in 25,000 rural areas under the Vikasit Andhra Pradesh-Viksit Bharat initiative