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Andhra Pradesh

AP govt plans Amaravati loan repayment without burden on people

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AP govt plans Amaravati loan repayment without burden on people

• Land sales to repay Amaravati loans
 
 • We will generate income to repay loans
 
 • YSRCP spreading false propaganda
 
 • 1.18 lakh TIDCO houses to be completed by June
 
 • Amaravati will be developed in three years 
 
The Capital News 
 
Amaravati: Dec 23:  Minister for Municipal Administration P Narayana announced that the loans taken from banks and financial institutions for the construction of Amaravati will be repaid by selling the lands acquired for the capital city.
 
He emphasized that this approach would ensure the repayment is managed without placing any financial burden on the people. The statement was made following the 44th meeting of the Andhra Pradesh Capital Region Development Authority (CRDA) held on Monday at the Secretariat under the chairmanship of Chief Minister N Chandrababu Naidu.
 
“We will repay the loans with the income generated in Amaravati,” said Minister Narayana during a press briefing. He further criticized the YSRCP leaders, accusing them of spreading misinformation about the Amaravati project. Rebuttal to Opposition’s claims Minister Narayana refuted allegations by YSRCP leaders, stating, “The YSRCP leaders did not expect that work in Amaravati would progress quickly.
 
They are spreading false propaganda and creating a bad press for the project. However, no matter how much misinformation anyone spreads, Amaravati will be developed in three years, and we will complete its construction.” Highlighting the State’s plans, the minister said that Amaravati’s development is part of a broader strategy that includes building satellite cities around port areas through land pooling, similar to Amaravati’s model.
 
He also lauded CM Chandrababu Naidu’s vision, stating, “CM Chandrababu is a person with vision. We are developing areas with ports, manufacturing, electronic, and IT industries to make the state a hub of progress.” 1.18 lakh TIDCO houses by June Addressing the housing sector, the minister revealed that the Chief Minister has directed the completion of 1.18 lakh TIDCO houses by June 12.
 
Minister Narayana criticized the previous government for mismanagement of the TIDCO housing scheme, alleging that it reduced the number of houses, altered beneficiary lists, and provided loans without building the promised homes. “Banks are now pressuring beneficiaries to repay those loans. To address this, CM Chandrababu Naidu has ordered the release of Rs 102 crore to ease the burden on beneficiaries,” Narayana said.
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