CM YS Jagan emphasised that, in order to compete with cities like Hyderabad, Chennai, and Bengaluru, Andhra Pradesh needs to focus on the development of Visakhapatnam with a port-led economy.
CM YS Jagan presents Vision Vizag. (Supplied)
Andhra Pradesh Chief Minister YS Jagan on Tuesday, 5 March, advocated for making Vishkapatnam the capital of the state.
Speaking at the Vizag Vision launch event, instilling confidence in re-election, he announced his intention to take the oath as the chief minister after the upcoming polls in Vishakapatnam.
The chief minister emphasised the need for developing Vishakapatnam as a port-led economy.
He spoke about his plans to relocate his administration from Tadepalli, where the opposition TDP had earlier proposed Amaravati as the sole capital.
Meanwhile the chief ministers’ three capitals pitch with Visakhapatnam as the executive capital is in the Supreme Court.
The principal Opposition alliance, the TDP-JSP called out CM’s move to Visakhapatnam as to create a regional divide and promised the construction of Amaravati as the sole capital.
Apart from the “Vision Vizag”, YS Jagan also inaugurated Bhavitha, a wholesome and comprehensive programme that brings a convergence of the industry with institutions like ITI and Polytechnic Colleges.
YS Jagan released a “Vision Vizag” document which lays out his government’s plans to develop Visakhapatnam as an international city with a budget of ₹1.5 Lakh crore for the next five years.
This plan comes amid the state’s struggling finances. The revised estimate for revenue expenditure for FY 2023-24 is ₹2.28 lakh crore, whereas for capital expenditure it is ₹27,308 crore.
The revenue deficit is ₹31,534 crore, whereas the fiscal deficit for the same period is around ₹60,153 crore, which amounts to 2.19 percent and 4.18 percent of the GSDP respectively.
However, the state faces challenges in managing accumulated debts since the bifurcation in 2014, which have now reached ₹7,03,000 crore as of January 2024.
During Chandrababu Naidu’s TDP tenure, when advocating for the development of Amaravati, YS Jagan, who was in opposition, criticized the presentation as manipulative and mocked it as mere graphics.
During his Visakhapatnam tour in anticipation of the upcoming general elections likely to be scheduled in April, YS Jagan unveiled the vision document for Vizag in the development dialogue for Andhra Pradesh. Around 1,000-2,000 delegates from various sectors participated in the meeting.
Addressing the audience, he noted that post-bifurcation, Andhra Pradesh remained primarily an agrarian state, with the agricultural sector alone contributing 35 percent to the GSDP.
He emphasised, “The state won’t develop unless there is growth in the secondary sectors, which is now around 25 percent and service sectors 40 percent.”
YS Jagan highlighted the loss of the economic growth engine Hyderabad during the bifurcation. Hyderabad witnessed significant investments, with 90 percent of PSUs establishing their presence there, resulting in faster growth compared to other cities in the state.
The chief minister explained that Telangana, primarily driven by around 60 percent of its growth from Hyderabad, is leading the charts. In order to compete, Andhra Pradesh must capitalize on its strengths. With a ten-year vision, the focus should be on developing Visakhapatnam, which boasts the second-largest coastline in India.
He suggested fostering a port-led economy to bolster the secondary and service sectors.
This developmental initiative is envisioned along with other ports like Bhavanapadu, Kakinada, Machilipatnam, and Ramayapatnam.
As per the “Vision Vizag” document released by the state government, a ten-year vision has been outlined for the development of Visakhapatnam and its adjoining regions, with a budget of ₹1.5 lakh crore for the coming five years aiming to meet international standards, as follows:
Opportunity: The vision document speaks of an opportunity for Vizag to service the Eastern hemisphere and be Asia-Pacific’s modern gateway for the business and financial world.
The document adds that, despite a long coastline, strategic geography, and immense commercial scope, India has no genuine centre on the east coast here to connect with the wider business and financial hubs in the Eastern world.
Budget: The document speaks of investment planned in the coming 5 years is ₹1.5 lakh crore — Which is almost close to that of countries like Japan, Singapore and Korea a decade or so back.
This is expected to create more than a half million employment opportunities in the region during the same period.
Future: The document also gives a division of investment to be made in various sectors—28 percent of the total budget will go to Connectivity, 61 percent to the industrial landscape, three percent to Livability and Social infrastructure, six percent to Sustainability and Climate Resilience, and two percent to Urban planning and City Infrastructure.
Connectivity: The vision document promises freight corridors, railway zone, metro rail, Bhogapuram Airport and International City connecting Vizag to the world.
Industrial Landscape: It also promises industrial corridor, tech parks, MSME, chemical, pharma, and logistics parks will be developed in and around adjoining four districts such as Srikakulam, Vizianagaram, and Anakapalli.
It will be made such Vizag will become an IT, AI, Fin-tech, and financial hub.
Livability and Social infrastructure: There are 151 eco-blue lakes, and lakes to be developed along with 100 eco-green parks.
Sports Hub: A total of ₹300 crore budget is planned around with international cricket stadium, mini sports stadium, indoor stadium, and children’s park arena.
Sustainability and Climate Resilience: Tourism potential will be adding up to ₹1500 crore in the next 4-5 years and developing six beach points. Also, 100 percent litter-free city and end to end circular economy.
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