No Issue of Funding for Amaravati

CRDA is looking for a funding of a whopping 45000 Crore for the critical infrastructure in capital city of Amaravati over the span of project implementation period but as of now the authority is relying on other allocations for the funding. Currently, CRDA only has a revenue of 40 Crore per annum which is through building and layout permissions.

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CRDA so far has got about 400 Crore from the state government in the last couple of years while another 2500 Crore from the central government. The authority is likely to get only 1000 Crore for Amaravati which is far behind what is needed. But CRDA Commissioner, Sreedhar says funding will not be a problem for the ambitious project instead the biggest challenge before the agency is to race against time and deadline.

Sreedhar revealed that CRDA has around six to seven proposals from multilateral agencies are in an advanced stage. International collaboration is also being worked out. The government is confident of pulling it off with the help of with the assistance of Hudco, World Bank, ADB, AIB and BRICS proposals.

The agencies have come up with proposals to provide technical assistance as well as execute public transportation, water, and sewerage, energy as well as smart city solutions while the French Development Agency has expressed its keenness to fund key public transport systems and focus infrastructure projects in Amaravati. The authority is waiting to overcome the legal hurdles over the issue so that few proposals can be finalized.