Nirmala Sitharaman Addresses Foundation Laying Ceremony for Banks in Amaravati

Amaravati: During the foundation stone laying ceremony for the headquarters of various banks and insurance companies in Amaravati, Union Minister Nirmala Sitharaman expressed her enthusiasm for the revitalisation of Andhra Pradesh's capital. Highlighting the significance of building a new capital city, she remarked, "It is a pleasure to restart Amaravati, the capital of Andhra Pradesh."

Sitharaman noted that the establishment of Amaravati is akin to a yagna, underscoring the collaborative efforts with Prime Minister Modi to resume construction work. She announced the arrival of 15 public sector banks and insurance firms setting up their headquarters in the city's financial district, commending this initiative as a step towards ensuring financial security for such an expansive metropolis.

The minister emphasised the importance of recognising the sacrifices made by farmers during the capital's construction, urging financial institutions to guarantee that farmers do not face any hardships. She implored banks not to limit their support solely to Kisan Credit Cards, encouraging them to offer broader financial benefits to the agricultural community.

Sitharaman highlighted that 25 crore people have successfully emerged from poverty in the country, with rising aspirations among the middle class. She praised farmers for providing nutritious food to the nation, referencing the transport of bananas from Maharashtra and coconuts from Tamil Nadu to major cities like Delhi and Mumbai. She advocated for enhanced marketing facilities to ensure financial benefits for other crops, and called on banks to assist in transporting horticultural products from Rayalaseema’s nine districts to markets in other states.

Moreover, the minister stressed the need for banks to nurture industries such as packaging and cold chain logistics, as well as to develop future-oriented and integrated ideas. Reflecting on past initiatives, she highlighted the successful Mahila Sakhi programme that empowered women as insurance agents, yielding remarkable results.

Sitharaman affirmed that Prime Minister Modi consistently supports Andhra Pradesh, especially in light of the challenges faced post-division. As part of the government's forward-looking initiatives, she announced plans to establish centres in the districts for AI training related to Quantum Valley and AI projects, alongside a focus on fields such as astrophysics.

"It is heartening that the Indian Institute of Astrophysics has signed an agreement with the AP government today," she remarked, expressing a vision for Amaravati to evolve into a futuristic capital within a year and a half, with aspirations to build a Cosmos Planetarium.

Sitharaman concluded by revealing that the central government has made significant decisions regarding rare earth minerals, conveying her hope that Andhra Pradesh will actively engage in this vital sector.