Newly bifurcated AP to receive technical and financial help from Singapore for developing the new capital, other infrastructure
Honourable finance Minister Arun Jaitley had introduced FDI in real estate during the maiden budget presented on July 10, 2014 and the contours of the guidelines were finalised in the last few months. It seems that it was a successful move as many countries are already investing in the infrastructure and real estate in India.
Singapore has come forward to work with the Government of Andhra Pradesh in development of infrastructure and the move to set up a new capital and other smart cities. On Monday a delegation led by former Prime Minister of Singapore Goh Chok Tong met with Andhra Pradesh Chief Minister N. Chandrababu Naidu. The Singaporean counterpart offered support in developing the new capital and setting up of new infrastructure projects.
It is expected that the new state capital will be built near Vijaywada. According to a statement from the Chief Minister’s Office, the State Chief Minister was assured support from the Government of Singapore and the team suggested ways to raise funds. During the interaction, the CM outlined the State Government’s plans to the delegation in transforming Andhra Pradesh into a logistics and manufacturing hub.
The CM also talked in length about AP’s plan for ports, airports, highways, industrial nodes in Vizag-Chennai and the Chennai-Bengaluru Industrial Corridors to the delegation. This move will be beneficial for the youth of the newly formed state as jobs will be generated though them. Eventually we can expect a holistic growth of the entire region.
Source- The Hindu Business Line
Arun Jaitley, Chennai-Bengaluru Industrial Corridor, finance minister Arun Jaitley, Finance Minister Arun Jaitley's maiden budget
