Amaravati Construction Gets ₹11,000 Crore Boost as HUDCO Approves Funds
The Housing and Urban Development Corporation (HUDCO) has approved the release of ₹11,000 crore for the construction of Andhra Pradesh's capital city, Amaravati. Announcing the development, Andhra Pradesh Minister for Urban Development, P. Narayana, stated that the government had been in discussions with HUDCO regarding the funding and that this decision would expedite the capital city’s construction.
The allocation of ₹11,000 crore for Amaravati’s construction was originally made by HUDCO in the past. Minister Narayana had met with HUDCO Chairman and Managing Director Sanjay Kulshreshtha in October last year to discuss the release of funds. During the meeting, the minister explained the measures the Andhra Pradesh government was undertaking and detailed the fund utilization plan to the HUDCO CMD.
Following these discussions, the approval for fund release was granted during a recent HUDCO board meeting held in Mumbai. Minister Narayana expressed optimism, noting that the decision would accelerate the pace of development activities in Amaravati.
