New Delhi: Reflecting coalition dynamics, Finance Minister Nirmala Sitharaman on Tuesday announced infrastructure projects and financial assistance for Bihar and Andhra Pradesh, which are ruled by allies who are crucial for the smooth functioning of Narendra Modi government.
She devoted 12 of the 165 paragraphs of her budget speech to both Andhra and Bihar, a recognition not given to other states though some of them managed to get a mention here and there.
Opposition called it a ‘save Modi government’ plan as the support of TDP and JD(U) are crucial for BJP.
Clubbing Andhra Pradesh with Bihar, Jharkhand, West Bengal and Odisha, Nirmala said the government has formulated an all-round development plan for the eastern region.
For Andhra, she said the union government “will facilitate” special financial support through multilateral agencies and in the current fiscal, Rs 15,000 crore would be arranged with additional amounts in future years.
The budget once again spoke about its commitment to financing and early completion of Polavaram irrigation project, which Nirmala said once completed, would facilitate India’s food security as well.
The budget also promised funds for essential infrastructure such as water, power, railways and roads in Kopparthy node on the Vishakhapatnam-Chennai Industrial Corridor and Orvakal node on Hyderabad-Bengaluru Industrial Corridor.
An additional allocation will be provided this year towards capital investment for economic growth while grants for backward regions of Rayalaseema, Prakasam and North Coastal Andhra will also be provided as per the Andhra Pradesh Reorganisation Act.
For Bihar, the budget said it would support the development of Gaya as an industrial node on the Amritsar-Kolkata Industrial Corridor. It would be a “good model” for developing ancient cultural centres into future centres of modern economy.
The union government will also support development of road connectivity projects at a cost of Rs 26,000 crore. Power projects, including setting up of a new 2400 MW power plant at Pirpainti, will be taken up at a cost of Rs 21,400 crore while new airports, medical colleges and sports infrastructure in Bihar will also be constructed.
“An additional allocation to support capital investments will be provided. The requests of Bihar Government for external assistance from multilateral development banks will be expedited,” Nirmala said in her budget speech.
With Bihar facing frequent floods, the budget also the union government will provide financial support for projects worth Rs 11,500 crore to fund ongoing and new schemes including barrages, river pollution abatement and irrigation projects. In addition, survey and investigation of Kosi related flood mitigation and irrigation projects will be undertaken.
To help promote tourism, the budget said Vishnupad Temple Corridor and Mahabodhi Temple Corridor will be supported, modelled on the successful Kashi Vishwanath Temple Corridor. A comprehensive development initiative for Rajgir will also be undertaken besides supporting the development of Nalanda as a tourist centre besides reviving Nalanda University to its glorious stature.
Union Budget 2024 LIVE | Making a record for any Finance Minister, Nirmala Sitharaman presented her 7th consecutive Union Budget on July 23, 2024 under the Modi 3.0 government. This Budget brought tax relief for the middle class, while focusing on jobs through skilling, incentivising employers. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.
Published 23 July 2024, 15:13 IST
Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.
