Union Budget 2024: Funds for Amaravati not for Polavaram project

New Delhi: Presenting her seventh consecutive budget in Parliament on Tuesday, Finance minister Nirmala Sitharaman announced landmark projects and also fund allocations for Andhra Pradesh. 

Amid the YSRCP’s demand for granting Special Category Status, the Finance minister announced special financial support to the Telugu state. Sitharaman said that the government had made concerted efforts in recognising the state’s need for capital, as per the AP Re-organisation Act.

“Andhra Pradesh Reorganisation Act – Our govt has made efforts to fulfil the commitments in the Andhra Pradesh Reorganisation Act. Recognising the state's need for capital, we will facilitate special financial support through multilateral agencies,” Sitharaman said in her speech. 

As the TDP government aims to make Amaravati a model capital city, she said Rs 15,000 crore will be arranged during the financial year while the additional outalys will be provided in future years. The funds will support basic infrastructure like water, power and roads and industrial development in the state, she added. 

The Centre is fully committed to financing early completion of the Polavaram project as this facilitates the country's food security too. Grants for backward regions of north-coastal Andhra Pradesh will also be provided, FM Sitharaman added. 
 

Also Read: Union Budget 2024: Key Highlights