Centre compels for Naidu to go Fund Hunting

Andhra Pradesh Reorganization Act promised the truncated state that the entire cost of capital construction will be borne by the central government. The state government had estimated that the World Class capital will cost about One Lakh Crore for building the city from the scratch.

However Center has given indications that it will only help the state to the extent of 10000 Crore that is 2000 Crore per year for the next five years. The state government expects that the core capital which will include all the important government buildings will come up this 10000 Crore.

So for the rest of the infrastructure, the state will have to raise funds from Overseas Development Agencies (ODA). Also several other structures in the capital will be constructed on Public Private Partnership (PPP) model. Singapore Experts team will be submitting the Master Plan in June. Once the Master Plan is locked, Chandrababu Naidu will have to begin the funds hunt.