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Budget allots 3,168 crore towards AP Capital

APThe Andhra Pradesh Budget for 2015-16 has set aside Rs.3,168 crore towards development of AP Capital city.

Describing the consent of farmers, to part with their land for the new capital project, as a historical event, Finance Minister Yanamala Ramakrishnudu said the government “gratefully acknowledges their contribution.”

Funds were being released to the Capital Region Development Authority for making payments to farmers, he added.

He said that the total land required for the new capital was about 33,252 acres, but only 7000 acres under  CRDA  is being procured by obtaining consent from the land owners.

The requirement is 33,252 acres of which 87 per cent of the owners have given consent for pooling their land.

As per the plan, 50 per cent of the total land is to be used for common infrastructure for the capital city, he said, adding the standard of infrastructure will be state of the art.

About 25 per cent of the land is to be returned to the land owners in the form of developed reconstituted plots.

This would leave about 7,000 acres with the State for constructing the capital complex as well as bringing investments to provide sustainable jobs for the residents of the capital city. “It is planned to return the developed land to the land owners, construct the capital complex and bring the threshold level of jobs which will make the city self-sustain over the next three years,” the Minister said.

Source: THI