Naidu in funds hunt for Amaravati

Given that Central assistance is looking like a mirage, Andhra Pradesh Chief Minister Chandrababu Naidu is exploring new ways to collect funds for Amaravathi Construction. Loans seem to be the only way for Naidu at the moment but even in that, there are restrictions and limits over the loans that the state takes.

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According to primary estimates, the basic infrastructure of the capital will take at least 40000 Crore in the next 10 years. The state government will need a minimum of 13000-15000 Crore immediately. The state government is looking at long term loans since it can not repay the debts in near future.

HUDCO is ready to offer 7500 Crore while the state government is pursuing a loan of 7247 Crore with the World Bank. International agencies like EDB, AIIB, NDB, JICA are also being consulted. Domestic financial institutions like LIC and EPF are also being consulted as they expect less interest. This financial year will need 4000 Crore and thats the target for Naidu.