The AP Capital Development Authority will raise ₹11,000 crore loan from HUDCO and ₹5,000 crore from KfW, a German state-owned bank.
Published Dec 19, 2024 | 9:48 PM ⚊ Updated Dec 19, 2024 | 9:48 PM
Chief Minister N Chandrababu Naidu chairing the Cabinet meeting at the state Secretariat. (CMO Andhra Pradesh/X)
The Andhra Pradesh Cabinet has approved Amaravati development works to the tune of ₹24,276 crore and allowed the AP Capital Region Development Authority to raise ₹11,000 crore loan from HUDCO and ₹5,000 crore from KfW, a German state-owned bank.
The meeting at the Secretariat on Thursday, 19 December, also approved the lining works of the Punganur Branch Canal as part of the second phase of works related to the Handri Neeva Sujala Sravanthi project.
Additionally, the Cabinet decided to exempt from stamp duty the rescheduling of loans in 10 flood-affected districts. It also okayed a proposal to float fresh tenders for Polavaram Left Canal works as the agreement with the present contractor has expired.
The N Chandrababu Naidu-led Cabinet also gave its nod for releasing funds to provide mid-day meals to intermediate students and supplying textbooks free of cost.
An additional 10 acres would be provided to the All India Institute of Medical Sciences (AIIMS) at Mangalagiri in Guntur district.
The meeting approved raising ₹1,000 crore loan for procuring paddy from farmers. The government would give a guarantee to the Markfed to raise the loan.
The Cabinet also cleared a proposal to call tenders afresh for five works under Jal Jeevan Mission after cancelling the present work orders.
(Edited by Majnu Babu).
