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Key Points

Andhra Pradesh CM Chandrababu Naidu has instructed the Finance Department to prioritize capital expenditure for economic growth. He reviewed state finances, emphasizing wealth creation through infrastructure investments. Major tenders for Amaravati’s Integrated Secretariat and HOD Towers have been awarded to NCC, L&T, and Shapoorji Pallonji. The government is also exploring funding options through NABARD for developmental projects.

Key Points: Chandrababu Naidu Directs Finance Dept to Prioritize Capital Expenditure

  • Naidu stresses capital expenditure for economic growth
  • Reviews state finances with Finance Minister Payyavula Keshav
  • Amaravati Secretariat and HOD Towers tenders awarded
  • NCC, L&T, and Shapoorji Pallonji secure major contracts
2 min read

Andhra CM tells Finance Dept to give priority to capital expenditure

Andhra CM Chandrababu Naidu emphasizes capital investment for wealth creation, reviews state finances, and finalizes Amaravati infrastructure tenders.

"Greater emphasis must be placed on capital expenditure that drives wealth creation and revenue generation. – N. Chandrababu Naidu"

Amaravati, June 26

Andhra Pradesh Chief Minister N. Chandrababu Naidu on Thursday directed the Finance Department to give priority to capital expenditure.

He emphasised that funds received from the Central Government under various schemes should be directed towards capital expenditure.

Highlighting the importance of capital investment, the Chief Minister stated that in addition to welfare programs, greater emphasis must be placed on capital expenditure that drives wealth creation and revenue generation. He instructed officials to prioritize such high-impact projects going forward.

The Chief Minister conducted a comprehensive review of the State Finance Department at his camp office. The review, attended by Finance Minister Payyavula Keshav and senior department officials, covered the financial status of the state, including revenue, expenditure, and fund allocation.

The Chief Minister assessed monthly spending on welfare programs, including pensions, and held detailed discussions on the funding requirements for upcoming developmental projects and the implementation of various schemes. He emphasized the importance of ensuring adequate availability of funds to support these initiatives.

During the meeting, the Chief Minister directed officials to explore funding options through NABARD and to prioritize expenditure in the Panchayati Raj Department.

Meanwhile, the state government has finalised tenders for construction of Integrated State Secretariat and HOD Towers in state capital Amaravati.

NCC Limited has bagged the tender for constructing Integrated Secretariat and HOD office (GAD Tower) at a cost of Rs.882.47 crore.

Shahpoorji Pallonji Group secured the tender for constructing HOD Towers 1 and 2. These towers will be built at a cost of Rs.1,487.11 crore

Larsen & Toubro got the tender constructing HOD Towers 3 and 4. The construction will be taken up at a cost of Rs.1,303.85 crore.

The state government directed Capital Region Development Authority (CRDA) to entrust works to L1 bidders. Municipal Administration Chief Secretary S. Suresh Kumar issued the orders in this regard.

- IANS

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Reader Comments

R
Rahul K.
Finally some focus on capital expenditure! For too long we've seen money being spent only on freebies. Infrastructure development will create jobs and boost our state's economy in the long run. Hope they execute these projects efficiently without delays.
P
Priya M.
₹3,600+ crores just for government buildings? 🤔 While development is important, I hope they don't neglect basic amenities in rural areas. Farmers are still struggling with irrigation issues in many districts. Balance is key!
S
Suresh V.
Good move by CM Naidu. Amaravati needs proper infrastructure to become a world-class capital. These projects will attract investments and create employment opportunities for local youth. Just ensure transparency in tendering process!
A
Ananya R.
Hope they maintain quality standards in construction. We've seen too many government buildings develop cracks within few years. L&T and Shapoorji are reputed companies, but proper monitoring is must. Taxpayers' money shouldn't go waste!
K
Karthik N.
While capital expenditure is welcome, I'm concerned about the massive debt burden of AP. How will these projects be funded sustainably? We don't want another financial crisis like some other states are facing.
M
Meena S.
Good to see focus on both welfare and development. But officials should ensure timely payments to contractors to avoid work stoppages. Past experience shows delayed payments lead to poor quality work and time overruns.

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