- By Nidhi Giri
- Tue, 23 Jul 2024 05:15 PM (IST)
- Source:JND
Andhra Pradesh chief minister N Chandrababu Naidu lauded the Union Budget 2024-25, presented by Union finance minister Nirmala Sitharaman during the Parliament Monsoon Session on Tuesday for the significant financial support to the state. Terming the Budget as ‘progressive and confidence-boosting’, the chief minister stated that the support from the Centre would help rebuild Andhra Pradesh.
“On behalf of the people of Andhra Pradesh, I thank the Hon'ble Prime Minister, @narendramodi Ji and Hon'ble Union Finance Minister, @nsitharaman Ji, for recognising the needs of our State and focusing on a Capital, Polavaram, industrial nodes and development of backward areas in AP in the union budget of FY 24-25. This support from the Centre will go a long way towards rebuilding Andhra Pradesh. I congratulate you on the presentation of this progressive and confidence-boosting budget. #APBackOnTrack,” N Chandrababu Naidu wrote in a post on X (formally Twitter).
FM Nirmala Sitharaman on Tuesday presented her seventh consecutive budget, and announced significant financial support for Andhra Pradesh. The Union Budget 2024 includes an allocation of Rs 15,000 crore to aid in the development of the state's capital Amravati.
This announcement addresses a major demand from BJP's key ally Chandrababu Naidu-led TDP, which had sought the same amount for the construction and development of Amaravati as its sole capital.
READ MORE: Budget 2024 Will Empower New Middle Class, To Provide Unlimited Opportunities For Youth: PM Modi
The funding is part of the government’s efforts to meet the commitments outlined in the Andhra Pradesh Reorganisation Act. Sitharaman stated that the central government will facilitate this support through multilateral agencies and will continue to provide additional funds in future years as needed.
"Andhra Pradesh Reorganisation Act- Our govt has made efforts to fulfil the commitments in Andhra Pradesh Reorganisation Act. Recognising the state's need for capital, we will facilitate special financial support through multilateral agencies. In the current FY, Rs 15,000 crore will be arranged with additional amounts in future years," Sitharaman said.
In addition to the capital development support, the budget outlines continued investment in the Pollavaram irrigation project, which is crucial for Andhra Pradesh’s agriculture and water management. The Finance Minister assured that additional allocations will be made this year to enhance capital investments aimed at driving economic growth in the state.
"Our government is fully committed to financing and early completion of the Polavaram irrigation project, which is the lifeline for Andhra Pradesh and its farmers. This will facilitate our country's food security as well," Sitharaman said.
Apart from this, Sitharaman also announced that backward region grant will be provided to three districts Rayalseema, Prakasam, and North Coastal Andhra. The Finance Minister has also announced additional allocation for capital investment on the Visakhapatnam-Chennai Industrial Corridor and the Hyderabad Chennai Industrial Corridor.