Naidu succeeds as Centre allots 3,000 crore to AP

Andhra Pradesh who is facing financial crisis has finally been allotted funds by the Central Government just two days before the AP State Budget for 2015-16 year was to be presented. According to the reports, Centre has agreed to allot Rs 1000 Crore for AP Capital as an immediate effect and another Rs 1000 Crore for Polavaram Project.

The TD government received a much-needed boost on Tuesday and what is considered as the first major achievement by AP Chief Minister Chandrababu Naidu with Union Finance Minister Arun Jaitley stating that the Centre would release Rs 3,000 crore by the end of the financial year.

Another Rs 1,000 crore was decided to release by the Modi- Government to bridge over the Rs 22,000 crore revenue deficit being faced by the state said the Union Minister. Mr. Jaitley told Chandrababu Naidu to have faith in the Centre to fulfill all the promises made to AP and asked him to send the Detailed Project Report for construction of the capital city for the Centre to release money.

On Thursday, Yanamala Ramakrishnudu, AP finance minister will be presenting the state Budget and the assurance by the Union finance minister that Rs 3,000 crore would be released by month end will be useful for the AP government to project these allocations against Polavaram project, bridging the revenue deficit and the capital city construction in the AP Budget 2015-16.