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A day after disclosing the debts that Andhra Pradesh owns, the Union Finance Ministry informed the Parliament that the government of India has implemented ‘Special Package’ to AP. BJP Rajya Sabha MP GVL Narasimha Rao asked the details of ‘Special Package’ to AP in the Upper House and the Minister of State for Finance, Pankaj Chaudhary replied with a few specifics.
“The government of India had announced ‘Special Package’ to AP on March 15th, 2015. In line with the package, the GoI has provided financial assistance to 17 projects worth Rs 7,797 crore from foreign institutions. For the said amount the GoI has paid Rs 15.81 crore to the investors/financial institutes as interest,” said minister Pankaj.
The promises made in the Parliament, the Planning Commission’s (14th Commission) recommendations and development requirements for the divided AP, have been put into consideration before sanctioning the ‘Special Package’ said the union minister. 17 Externally Aided projects (EAP) have been included in this ‘Special Package’ and all of them will be funded by the GoI.
Vizag – Chennai corridor worth Rs 1859 crore, strengthening of AP health system worth Rs 935 crore, Andhra Pradesh Power for all projects worth Rs 897 crore and AP Rural Roads Project worth Rs 825 crore are some of the key projects in the ‘Special Package.’
The Union minister’s reply had noteworthy details but on the reality check, the Vizag – Chennai industrial corridor (VCIC) is progressing at a snail pace. Asian Development Bank (ADB) and the National Industrial Corridor Development and Implementation Trust (NICDIT) are jointly funding VCIC and two more corridors.
