Andhra Pradesh Chief Minister N Chandrababu Naidu spoke to Finance Minister Arun Jaitley due to the state targeting 15% of the state’s GDP growth next year.
Arun Jaitley given assured on Friday in Andhra Pradesh that the Center will make an extra effort to provide financial support to the state because it could increase by 4 to 5 percent more than the average National level.
He was also convinced that the completion of the multi-purpose Polavaram project will make Andhra Pradesh a power station for agricultural products.
Let me assure you, Mr. Minister-in-Chief, that we will not only fulfill all the promises we have with regard to the central government, but that we will go a mile further in relation to the state Of Andhra Pradesh, is where the much higher growth potential for the state and the rest of India arises, Arun Jaitley said here.
Terming Andhra Pradesh as one of the most progressive states of India he said he has to build his capital, run large irrigation projects, build cantons and manufacturing industry.
Investment avenues in Andhra Pradesh is much more compared to other parts of the country. I plan for the next few years Andhra Pradesh growth of at least 4-5 percent ahead of national GDP. The state has enormous potential, Arun Jaitley said.
It promises to be the most dynamic state with the coastal economy,Hopefully once the Pollavaram project is fully commissioned, it will also be a powerful engine in agriculture.
Andhra Pradesh CM N Chandrababu Naidu spoke of the state targeting 15 percent of the state’s GDP growth next year.
He said the state is building a new capital in Amaravati that will want huge funds and require the support of the Center and private entities.
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Addressing the summit earlier, Satya Prakash Tucker, Andhra Pradesh’s chief secretary, said the state is growing at 13% and is expected to grow double-digit for the next 10 years.
Last September, the Center declared a financial program for Andhra Pradesh comprising full financing of the Pollavaram irrigation project, tax concessions and special assistance.
Andhra Pradesh, which suffered financially due to the formation of the separate state of Telangana in June 2014, will get a railway area and all costs incurred on the irrigation part of the Polavaram project from the date it was confirmed a national project on 1 April 2014, will be funded by the Center.
The central government has agreed to provide special assistance to Andhra Pradesh for 5 years, which will compensate for the additional funds the state could receive between 2015-16 and 2019-2020.
So far, this tax, another Rs 1,976.50 crore have been released to the state.