03.07.18 Andhra Pradesh (APPSC) Daily Current Affairs

ANDHRA PRADESH

  • Andhra mulls issuing bonds for ₹42,000 crore to fund construction of Amaravati

 

  • Realising that the chances of securing assistance from the Centre are remote at this point, the Andhra Pradesh government is examining the possibility of issuing bonds worth ₹42,000 crore for the construction of its capital city, Amaravati. The State’s Capital Region Development Authority (CRDA) officials are “working on the proposal,” according to sources.

 

  • The Reserve Bank of India’s savings bond carries an interest of 7.75%, whereas small saving schemes such as the National Savings Certificate offer 7.6%. It will be easier to attract investors if the rate of interest is fixed at 8%.

 

  • In the last four years, the Centre has released ₹1,000 crore for projects in Vijayawada and Guntur, and ₹1,500 crore for the construction of Amaravati. The State’s estimate for its capital city is about ₹52,000 crore.

 

 

 

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