The Union Budget tabled today in the Parliament had Andhra Pradesh-specific allocations.
Finance Minister Nirmala Sitharaman announced 15000 Crore in Financial Assistance for Amaravati, funds for the Polavaram Project, the Vishakapatnam – Chennai Industrial Corridor and Hyderabad – Bengaluru Industrial Corridor, and a Special Package for All Rayalaseema Districts, Prakasam, and all Uttarandhra Districts for Andhra Pradesh.
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“Funds have been allocated for the development of infrastructure facilities like highways, internal roads, water, and electricity for Kopparthi and Orvakally industrial estates as part of these two industrial corridors respectively,” Nirmala said about the two Industrial Corridors.
Several of the other policies also benefitted Andhra Pradesh.
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As a result of this, the stocks related to Andhra Pradesh surged by 5% in the Stock Market today.
The winners include Andhra Cements, NCL Industries, Likitha Infrastructure, KCP, KNR Constructions, Sagar Cements & Aqua-based stocks.
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With this budget, there is a growing confidence in the investors that Chandrababu Naidu will have a significant hold on the Central Government as TDP’s Sixteen seats holds the key for the Government in Delhi.
That has been reflected in the Stock Market as well.
This environment is good for Andhra Pradesh which seeks rebuilding after five years of misrule by Jagan. Also, we can see the flow of investments into the state in the coming days as a result.
