Centre releases Rs.700 crore funds to AP

Union Finance Ministry in its statement released on Tuesday announced that it has released Rs. 700 crore funds to Andhra Pradesh state on November 23rd as a part of commitment made to it in the AP Reorganization act. It stated that Rs. 350 crore is meant for capital city Amaravati construction and the remaining Rs. 350 crores are for developing the 7 backward districts of Rayalaseema and North coastal AP. It allots Rs. 50 crore to each district of these two regions in the state. Earlier, Centre has released Rs. 1000 crore for Amaravati construction and Rs. 350 crore for backward districts development.

Centre is going to release another Rs. 300 crore in the next few days, probably after conclusion of winter parliament sessions. Officials of finance ministry said parliament has to approve the revised budget proposals for granting this fund. But, Congress party and its allies are said to be gearing for stalling the house proceedings in the winter sessions also like they did in the previous sessions. AP Government and people of state are anxiously waiting for the special financial package that Centre promised to the state.