Centre to release Rs.3K Cr to AP by March last week

Hyderabad, March 11, 2015: Bowing to pressure and continuous criticism over the raw deal meted out to AP in the union budget, the Centre has decided to release Rs.3000 Cr to the state by this month end. Union Finance Minister Arun Jaitley called up AP Chief Minister Chandrababu Naidu last night and informed him of the Centre's decision to release the amount. Out of the Rs.3000 Cr, Rs.1000 Cr is for construction of the Capital city and another Rs.1000 Cr for construction of the Polavaram Project. The Centre has earlier released Rs.100 Cr towards Polavaram Project. The third Rs.1000 Cr will be utilised to bridge part of the Rs.22,000 revenue deficit being faced by AP. Jaitley asked the Chief Minister to send a detailed project report ( DPR ) on construction of the Capital city. He also promised him that the Centre would fulfill all legitimate demands of the AP.