CM Naidu, Nirmala Sitharaman lay stone for 15 banks, insurance firms; Amaravati to get planetarium

Amaravati: Development of Amaravati is unstoppable with the sacrifices of Amaravati region farmers and Central government support for the development of the capital, said Chief Minister N Chandrababu Naidu.

The Chief Minister participated in laying of foundation for public sector banks and insurance companies along with Union Minister of Finance Nirmala Sitharaman in Amaravati on Friday.

The Capital Region Development Authority and the Indian Institute of Astrophysics signed an MoU for developing a planetarium on international standards in Amaravati, for which the State government allotted five acres of land.

Rs 15,000 crore allotted for Amaravati development works

Speaking on the occasion, the Chief Minister said the Amaravati reconstruction works were launched by Prime Minister Narendra Modi and the Central government allotted Rs 15,000 crore for Amaravati development works.

He said Union Minister Nirmala Sitharaman laid the foundation for 15 public sector banks and insurance companies, which are going to be developed at a cost of Rs 1,334 crore. With this, a financial city will be developed first of its kind in Amaravati, providing employment opportunities to 6,570 people.

The Chief Minister appealed to the Union Finance Minister for the extension of the exemption on capital gains for Amaravati region farmers, as they failed to utilise the opportunity so far.

Central support to Polavaram project and Visakha Steel Plant

He said that the Central government has been extending support to the Polavaram project and the Visakha Steel Plant. He said that the State government initiated several measures to excel in quantum computing, Artificial Intelligence, Agritech, infrastructure development and Amaravati will be developed as a green field city.

He said Amaravati will be developed as a world-class capital to make India proud. He appealed to bankers to develop a bankers’ tower in Quantum Valley to provide financial services from Amaravati.

Need to protect the needs of farmers, says Nirmala Sitharaman

Speaking on the occasion Union Minister Nirmala Sitharaman, pinning hopes on the development of Amaravati as a robust capital, stressed the need for protecting the interests of capital region farmers who gave lands for the development of Amaravati capital, appealed to bankers to think afresh and extend financial assistance to farmers on a top priority.

She said that as Chief Minister, Chandrababu Naidu is determined to develop the Rayalaseema region as a horticulture hub, bankers should come forward to extend financial assistance for developing necessary infrastructure, including cold storages, connectivity, packaging and export of fruits and vegetables from the region to the rest of the country and abroad.

She said the Prime Minister is keen on developing horticulture and as a result, a banana and coconut train is being operated from Maharashtra and other states to New Delhi to provide marketing facilities for horticulture products. He said the Prime Minister, who is ensuring food security now insisting on nutrition security and promoting the horticulture sector.

Focus on basic science subjects

The Union Finance Minister, praising the efforts of the State government in developing of Quantum hub and Artificial Intelligence, appealed to the Chief Minister to give priority to basic science subjects as Andhra is known for toppers and experts in science subjects.

She praised the Chief Minister for coming forward to allot land for the Indian Institute of Astrophysics to set up a world-class planetarium in Amaravati and added that the planetarium will help the young minds to talk about astrophysics as they can witness the planets in real time from the centre.

Earlier, Deputy Chief Minister Pawan Kalyan, Minister for Finance Payyavula Kesav, Minister for IT Nara Lokesh, and Union Minister Pemmasani Chandrasekhar addressed the gathering.