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Andhra makes 42000 cr debts for Amaravathi
Updated : Jul 2, 2018
The government of Andhra Pradesh is expecting the initial cost to construct Amaravathi at 52000 crores. However the central government has given only 1,500 cr for the cause. Looking at the recent developments, one could foresee that the centre may not help further for the construction of capital. So the government officials of Andhra Pradesh has put up a new proposal before the CM. They have requested him to issue bonds worth 42000 crore rupees to amass the capital needed for construction. According to reliable sources, Chandrababu Naidu has given a favourable nod to the scheme. It is also being rumoured that these bonds might be issued at 8% interest which is a little bit lucrative than other government bonds.