Andhra Pradesh has earmarked a provision of Rs 3,168 crore in its annual 2015-16 budget for developing a world class capital of the State to reflect the aspirations of the people.
This was disclosed by Finance Minister Yanamala Ramakrishnudu on Thursday in the State Assembly while presenting the annual budget. He pointed out that an immediate need for a building a new capital for the State has arisen consequent to the bifurcation of the undivided Andhra Pradesh.
The Finance Minister revealed that the total land required was about 33,252 acres of which 87 percent were secured by consent of the farmers and others in the land pooling. Out of this, 50 percent would be used for common infrastructure for the city which required for building state-of-the-art infrastructure. Some 25 percent would be returned to the land owners in the form of developed reconstructed plots. This would leave about 7,000 acres of land with the State for constructing its capital complex as well as brining investments to provide sustainable jobs for the residents of the capital city, he added.
The Finance Minister further explained that the government has planned to return the developed land to land owners, construct the capital complex and bring the threshold level of jobs which would make the city self-sustaining over the next three years. The consent of farmers is a historical event and the government gratefully acknowledges their contribution, he said, adding that funds were released to Capital Region Development Authority for making payments to farmers. (NSS)