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World class AP Capital gets allocation of only Rs 300 crore
World class AP Capital gets allocation of only Rs 300 crore Finance Minister Yanamala Ramakrishnudu has disappointed people with his budget which allocated only Rs. 300 crore for the world class capital city in Andhra Pradesh even after the Centre’s assurance to release Rs. 1,000 crore.
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On Thursday, Finance Minister Yanamala Ramakrishnudu has disappointed people with his budget which allocated only Rs. 300 crore for the world class capital city in Andhra Pradesh even after the Centre’s assurance to release Rs. 1,000 crore.
The AP government did not project the Centre’s allocation but allotted Rs 200 crore for the capital development fund and Rs 94 crore for the farmers who surrendered their lands under the land pooling scheme. Rs 3,168 crore financial allocation for municipal administration and urban development covering 97 municipalities and 13 municipal corporations including the Capital Region Development Authority was mentioned in the Budget copy of the Finance Minister.
Mr Ramakrishnudu clarified that the CRDA chose to earmark Rs 300 crore even though it was asked to project Rs 1,000 crore in the Budget for the AP capital in anticipation of grants from the Centre.
He said that AP has to allocate the money in the state Budget and spend it which will be followed by the reimbursement from the Central government on submission of utilization certificates. Mr Ramakrishnudu added that Rs 90 crore ha been released for the LPS in the current financial year and the remaining has been allotted for next year.
