Budget 2024: N Chandrababu Naidu hails Centre’s ₹15000 cr help for Andhra Pradesh, says, ‘step towards rebuilding State’

In a recent LinkedIn post, Andhra Pradesh Chief Minister N Chandrababu Naidu shared encouraging updates on the progress of the new NDA government in Andhra Pradesh. 

The TDP supremo emphasised that the state is regaining momentum thanks to productive meetings with key stakeholders, including foreign investors, NITI Aayog representatives, and BPCL officials. According to Chandrababu Naidu, these interactions have reignited investor interest in Andhra Pradesh, showcasing it as a promising and investor-friendly destination.

Here's N Chandrababu Naidu's post 

"Hello friends,

It has been a productive month for our new NDA government in Andhra Pradesh, and I'm glad to let you know that our State is back on track. Over the last month, I have met several key stakeholders, including foreign investors and representatives from NITI Aayog and BPCL, to unlock the potential of Andhra Pradesh. Investors are now looking at our State again with renewed hope, recognizing it as an investor-friendly destination with tremendous potential.

Yesterday, the Hon'ble Union Minister presented the Union Budget for 2024-25. I'm grateful that the union government led by the Hon'ble Prime Minister, Narendra Modi Ji, has prioritised the needs of Andhra Pradesh and honoured their commitment to our State's progress. The budget announcement is another step towards rebuilding our State. It is also a demonstration of excellent centre-state collaboration, strengthening cooperative federalism.

Recognising the need for capital, the union government has decided to facilitate special financial assistance through multilateral development agencies. The government has also reiterated its commitment to the early completion of the Polavaram project, a lifeline for our farmers.

Furthermore, under the Andhra Pradesh Reorganisation Act, the union government has pledged financial assistance for essential infrastructure to boost industrial development and an additional capital investment for economic growth. This will go a long way in rebuilding our State."

The Andhra Pradesh CM welcomed the Union Budget 2024-25, presented by Finance Minister Nirmala Sitharaman, and expressed gratitude to the Union government under Prime Minister Narendra Modi. He said that the budget prioritises Andhra Pradesh's needs, demonstrating a strong commitment to the state's progress. He added that this move highlighted the excellent cooperation between the central and state governments, reinforcing cooperative federalism.

The budget included special financial assistance through multilateral development agencies, addressing the state's capital needs. Additionally, the Centre reaffirmed its commitment to the early completion of the Polavaram project, a crucial initiative for the state's farmers.

During the seventh consecutive Budget presentation on July 23, Union Finance Minister Nirmala Sitharaman unveiled a special financial support package of ₹15,000 crore for the development of Andhra Pradesh's new greenfield capital city, Amravati. 

“Recognising the state’s need for capital, we will facilitate special financial support through multilateral development agencies. In the current financial year, ₹15,000 crore will be arranged, with additional amounts in future years,” Sitharaman stated during her Budget speech.

Amaravati, the state's capital, was planned and designed by Chief Minister Chandrababu Naidu during his first term from 2014 to 2019. Naidu's Telugu Desam Party is currently an ally in the BJP-led coalition government at the Centre.