Budget 2024 highlights: 5 key allocations for Andhra Pradesh by Nirmala Sitharaman

On 23 July 2024, Union Finance Minister Nirmala Sitharaman presented the Budget for FY 2024-25. The theme of the Budget this year revolves around Employment, Skilling, MSMEs, and the Middle Class, it was said. Announcing that the Centre would support the Andhra Pradesh Reorganisation Act, Nirmala Sitharaman listed special allocations for Andhra Pradesh. That said, these are the highlights for Andhra Pradesh from the Union Budget 2024:

1. Development of Amaravati

Recognising the State’s need for capital, the Government will facilitate special financial support through multi-lateral development agencies. In the current financial year, Rs 15,000 Crore rupees will be arranged with additional amounts in future years.

2. Polavaram Project

The Centre is fully committed to financing the full completion of the Polavaram Project, which is the lifeline of Andhra Pradesh and its farmers. This will facilitate the country’s food security as well.

3. Industrial development

Under the AP Reorganization Act, funds will be provided for essential infrastructure like water, power, railways and roads for promoting industrial development.

4. Funds for Kopparthi

Additional allocation will be provided towards capital investment for economic growth, in Kopparthi Node the Visakhapatnam- Chennai Industrial corridor.

5. Grants for backward regions

Grants for backward regions of Rayalaseema, Prakasham, North Coastal Andhra Pradesh, as stated in the Act will be provided.

In this coalition Government, Andhra Pradesh holds a crucial position with its high majority. The State had certain developmental expectations for the Union Budget 2024.

Accordingly, Chief Minister Chandrababu Naidu was seen in and out of meetings with the Cabinet in Delhi, discussing financial aid and infrastructure development for the State. He met key ministers including Finance Minister Nirmala Seetharaman, Home Minister Amit Shah, Commerce and Industry Minister Piyush Goyal, among others, and conveyed several key projects and funding needs. With these five aspects being highlights for Andhra Pradesh in the Budget 2024, his efforts seem to have paid off.

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