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AP capital city may face financial crunch
A lot of buzz is going on about the capital of Andhra Pradesh. Many questions are asked about it. First about the when? Later the when? Now comes the how? Andhra Pradesh’s capital project is facing funding problems.
Hyderabad: A lot of buzz is going on about the capital of Andhra Pradesh. Many questions are asked about it. First about the when? Later the when? Now comes the how? Andhra Pradesh’s capital project is facing funding problems.
According to some sources, pooling 30,000 acres for the capital city is not an easy task. The government will face next big challenge needs around Rs 25,000 to Rs 30,000 crore.
Agriculture minister Prattipati Pulla Rao who is a member of the cabinet subcommittee on land pooling said that the government will develop the land spending Rs 75 lakh to Rs 1 crore per acre. It is known that previously the AP government was planning to give the land to developers by giving them a share. But now it has decided to develop it on its own.
Considering all the current funds being used for the Farm loan waivers, the analysts are saying that government will have tough time getting the funds for capital development.
