Andhra Pradesh Chief Minister N. Chandrababu Naidu has intensified efforts to secure increased financial assistance for the state, ahead of the upcoming Union Budget 2024. In a significant move, Naidu met Union Finance Minister Nirmala Sitharaman on Friday at North Block, where he underscored the urgent need for central support amidst the state's mounting debt burden.
During the meeting, sources revealed that Naidu presented a detailed memorandum outlining Andhra Pradesh's financial requirements. He emphasized the necessity for enhanced allocations, citing ongoing infrastructure projects and developmental initiatives crucial to the state's progress.
Key among Naidu's demands were funds earmarked for the Polavaram irrigation project, special assistance for economically backward regions, and support for the development of Amaravati, the state's new capital.
The meeting also addressed pending issues stemming from the bifurcation of Andhra Pradesh, highlighting the state's fiscal challenges over the past five years. According to state government data, Andhra Pradesh's public debt has risen from 31.02% to 33.32% of the Gross State Domestic Product (GSDP) between the fiscal years 2019-20 and 2023-24.
Naidu's engagements extended beyond Sitharaman, as he also met with Defence Minister Rajnath Singh and Health Minister J.P. Nadda to discuss broader developmental priorities and concerns.
The timing of these discussions, weeks before the Union Budget presentation, underscores the significance of Naidu's efforts to secure adequate financial backing for Andhra Pradesh. Sources indicated that Sitharaman assured Naidu of a thorough consideration of the state's demands within the constraints of the national fiscal framework.
Naidu has consistently advocated for increased central support to address Andhra Pradesh's fiscal distress, underscoring the state's crucial role as a partner within the NDA coalition.
More Updates:
Uniform GST Rates Proposed: Impact on Milk Cartons, Sprinklers, and Solar Cookers
GST Council Reduces Tax on Milk Cans, Social Media Misrepresents Decision
Kerala and Karnataka Seek Special Packages from Centre to Address Economic Challenges