Amaravati poses 70000 Crore challenge to Naidu

CRDA is expecting that Amaravati will cost about 70000 Crore in the next seven years. The basic infrastructure and amenities alone will cost 10000 Crore per year. With the center not being pro-active in helping the state, the government is keen on going loans with several international agencies to fund the project.

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The government is planning to bring in 25000 Crore in the next three years and another 45000 Crore for the next four years to complete the project. Already the World Bank has agreed to give 6500 Crore to begin the works. According to the Reorganization act, the central government has to totally fund the construction of the government buildings.

The state government is mulling the idea of taking the help of HUDCO, Power Finance Corporation. The state is also interested in going for loans from JICA where the payment terms are feasible. It is a very tough task for the state in the next decade to pull off this Mega project. Lets see how they see through!