The Andhra Pradesh government has set in motion a grand project to transform Amaravati into the state’s new world-class capital. PM Unveils Andhra Pradesh’s Rs 65,000 crore, the project aims to create a “people’s capital” that attracts skilled migrants, leading industries, professionals and overseas businesses. Strategically located along the banks of the Krishna river, Amaravati will become an economic and cultural development hub.
After a break for five years from 2019 to 2024, the Amaravati project has resumed in the leadership of Chief Minister N Chandrababu Naidu. The renewed push highlights the state government’s wish to create a modern, green and inclusive city. Learning from global cities such as Amsterdam, Singapore and Tokyo, the project is planned to be a vibrant and multicultural one with the latest infrastructure that attracts individuals and investors.
Global Inspirations and Strategic Planning
Amaravati Master Plan, designed by international design giant Foster & Partners, spreads across 217.23 sq km from Vijayawada to Guntur. The plan envisions not just robust administrative structures but also a symbiotic urban system designed to create 1.5 million employment opportunities. Amaravati, with an estimated population of 3.5 million and an estimated GDP of US$35 billion by the year 2050, will become the economic hub of the region.
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Financial Aid and Economic Repercussions
The expense incurred in developing the project in the year 2024 is going to be roughly Rs 64,910 crore, with its first phase going to be implemented within the subsequent three years. The scheme is largely funded with funds; The Indian government has pledged a grant of Rs 15,000 crore, while other international institutions such as the World Bank and the Asian Development Bank have pledged a combined amount of US$ 800 million as assistance. Also, HUDCO has signed an agreement for a loan of Rs 11,000 crore and is in talks with KfW for another Rs 5,000 crore, reflecting the strong funding sources for this change-making project.
In a significant gesture, Prime Minister Narendra Modi has been specially invited to the foundation stone laying ceremony, the milestone in this grand project. While it is yet to be seen whether the PM will or won’t grace the event with his presence, his presence during the bhoomipujan will mark Amaravati’s national significance as a symbol of progress and modernity.
With this monumental project, Andhra Pradesh will redefine the era of urbanization and etch Amaravati’s role as a beacon of economic progress and cultural identity.
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