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New plan to aid AP

New plan to aid AP
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The Central government is working out a new proposal in lieu of special status category for Andhra Pradesh which would be more beneficial for the state, according to Union Minister for Science and Technology Y Sujana Chowdary. Addressing mediapersons here on Friday, he said, according to the new proposal that is under consideration, the state would get 70 per cent of the funds as grant and 30 per cent in loan.

Centre’s proposal more beneficial, says Sujana

Hyderabad: The Central government is working out a new proposal in lieu of special status category for Andhra Pradesh which would be more beneficial for the state, according to Union Minister for Science and Technology Y Sujana Chowdary. Addressing mediapersons here on Friday, he said, according to the new proposal that is under consideration, the state would get 70 per cent of the funds as grant and 30 per cent in loan.

Explaining the details to The Hans India, he said that if special status category was granted the state would have got 90 per cent as grant and 10 per cent funds as loan for a period of five years, but in this case the grant and the loan will be for a period of 20 years or could even be more. Apart from this, the Centre had also agreed for interest subvention of 3 per cent to promote industrial investments in the state, as well as 15 per cent relief on capital allowance in income tax.

The tableau of Andhra Pradesh on display at Rajpath during the full dress rehearsal for the Republic Day parade in New Delhi on Friday

Also, a venture capital fund has been considered for Andhra Pradesh, and decisions on all these would be taken in next one week’s time he added. Special packages for seven back ward districts in North Coastal and Rayalaseema districts were supposed to get a maximum of Rs 30 crore per year as per the existing scheme. However, the Centre had agreed to hike this to Rs 60 crore per year, and efforts are being made to further increase this after taking into consideration the fiscal adjustments.

With regard to the Centre’s package to building capital city, the minister said the about Rs 20,000 crore was expected to incur to build the state Assembly, High Court, Raj Bhavan, Official Quarters in the core capital. The Centre had asked to come up with detail project report of the each component, and “we wanted the Centre to release funds year-wise and the first installment of funds to the tune of Rs 1,000 crore are expected to be released in a fortnight,” he said.

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