Union Budget 2024 | ‘Special allocations’ made to Andhra Pradesh after five years: TDP

Amaravati: The Telugu Desam Party (TDP) on Tuesday said "special allocations" were made to Andhra Pradesh in the Union Budget after five years, citing "commitments" announced for the Polavaram Project, industrial corridors and others.

In a post on 'X', the ruling party noted that Rs 15,000 crore funds were allocated for the reconstruction of Andhra Pradesh in fiscal 2024-25.

Track our live updates on Budget here

"Rs 15,000 crore for reconstruction of Andhra Pradesh this fiscal, additional funds for Polavaram (Project) lifeline, funds for Vizag Chennai Industrial Corridor this year and special funds for seven backward districts," said the party in the post.

Presenting the Budget for 2024-25 in the Lok Sabha, Union Finance Minister Nirmala Sitharaman said that the NDA government at the Centre has "made concerted efforts to fulfil the commitments" in the Andhra Pradesh Reorganisation Act, 2014.

Track latest reactions to Budget here

Sitharaman said, "special financial support" will be facilitated by the Union Government through multilateral agencies.

"Recognising the state’s need for the capital, we will facilitate special financial support through multilateral development agencies. In the current financial year, Rs 15,000 crore will be arranged with additional amounts in future years," she said.

Without specifying the magnitude of funds or a timeline, the finance minister observed that the Centre is "fully committed" to financing and early completion of the Polavaram Project and termed it as the lifeline of Andhra Pradesh and its farmers.

According to Sitharaman, the Polavaram Project, a mega-irrigation project on the Godavari river, will also facilitate food security for the country.

As part of the industrial development of the southern state under the Andhra Pradesh Reorganisation Act, 2014, she said funds will be provided for essential infrastructure such as power, water and railways in Kopparthi node of the Visakhapatnam Chennai Industrial Corridor.

Sitharaman said similar impetus will be extended to the Orvakal node of Hyderabad Bengaluru Industrial Corridor.

Further, she emphasised that additional allocation will be provided this year towards capital investment for economic growth, without mentioning the specifics.

The finance minister promised grants as mentioned in the Andhra Pradesh Reorganisation Act, 2014 for backward regions in Rayalaseema, Prakasam and North Coastal Andhra regions.

Union Budget 2024 LIVE | Making a record for any Finance Minister, Nirmala Sitharaman presented her 7th consecutive Union Budget on July 23, 2024 under the Modi 3.0 government. This Budget brought tax relief for the middle class, while focusing on jobs through skilling, incentivising employers. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.