In a pivotal proclamation on Tuesday, Union Finance Minister Nirmala Sitharaman delineated a substantial financial endowment of Rs. 15,000 crore dedicated to the development of Amaravati, the nascent capital of Andhra Pradesh.
Conspicuously absent, however, was any mention of the fervently sought-after Special Category Status (SCS) for the state. Acknowledging Andhra Pradesh’s imperative for capital infusion, the Central administration pledged to channel this financial support through multilateral conduits, earmarking Rs. 15,000 crore for the current fiscal cycle, with assurances of supplementary allocations in subsequent years.
This announcement was made during the presentation of the Union Budget 2024 in the Lok Sabha. Sitharaman underscored the continued financial backing for the foreseeable future, affirming the Central government’s unwavering commitment to the culmination and funding of the Polavaram irrigation enterprise.
“Polavaram is the lifeblood of Andhra Pradesh and its agrarians,” she articulated, emphasizing the ongoing endeavors to honor the stipulations of the Andhra Pradesh Reorganization Act. Additionally, the Finance Minister heralded the advancement of the Vizag-Chennai industrial corridor and introduced a specialized package for its enhancement.
She further declared that grants would be allocated to underdeveloped regions such as Rayalaseema and coastal Andhra Pradesh to propel various developmental initiatives. “We shall orchestrate a comprehensive scheme, Purvodaya, aimed at the holistic advancement of Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh,” she concluded.