Visakhapatnam: AU and industrial corridor get major allocations in Andhra Pradesh 2023-24 budget

On Thursday, 16 March 2023, Buganna Rajendranath Reddy, Finance Minister, Andhra Pradesh State Government, presented the budget for the 2023-24 financial year in the assembly. Capped at Rs 2,79,279 crore, it primarily focused on the government’s welfare schemes, such as Amma Vodi, Rythu Bharosa, Vidya Deevena, and others. The proposed executive capital of the state, Visakhapatnam, received several grants in the Andhra Pradesh state budget for 2023-24 fiscal, out of which the Medtech Zone, food craft institute, and greyhounds training centre got the lion’s share.

In his budget presentation speech, minister Rajendranath stated that funds would primarily be diverted towards the infrastructural development in Visakhapatnam. He cited the road refurbishment being carried out for the G20 Summit and asserted that beach development is next in line. The city’s prestigious educational institution, Andhra University, is another top beneficiary of the budget with 302 crores. Nevertheless, it is to be observed that this year’s allocation to AU is 3.45 crores lesser compared to the previous fiscal.

Some of the other significant allocations to Visakhapatnam in the Andhra Pradesh state budget for 2023-24 fiscal are as follows.

• Construction of new Tribal Research Institute- Rs 4.43 crores
• Mental hospital infrastructure and management- Rs 10.7 crores
• Development of facilities in Andhra Medical College- Rs 5 crores
• Visakhapatnam-Chennai Industrial Corridor- Rs 236.85 crores
• GVMC- Rs 42.45 crores
• Tourism department and tourist project development- Rs 50 crores
• Beach restoration- Rs 1,000 crores
• Coastal area conservation- Rs 1,000 crores

The finance minister affirmed that the investments attracted through the Global Investors Summit will boost the state’s image on the global map.

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