Union Budget 2024: Treasure opened for Bihar and Andhra

Finance Minister Nirmala Sitharaman announced several developmental projects for NDA’s ally states Bihar and Andhra Pradesh, led by Chief Ministers Nitish Kumar and Chandrababu Naidu, respectively. The Budget 2024-25 revealed extensive investments in infrastructure and special financial support, aiming to enhance economic growth in these states.

Key Announcements

Sitharaman introduced new airports, medical colleges, and highways in Bihar. She also pledged special financial support for Andhra Pradesh. This announcement follows the pivotal role Nitish Kumar and Chandrababu Naidu played in aiding the BJP-led National Democratic Alliance (NDA) to secure a third term in power.

Economic Boost for Bihar

Bihar will see significant infrastructural development. Sitharaman revealed a budget allocation of Rs 26,000 crore for various road projects. The central government will secure funding through multilateral development agencies. Additionally, the establishment of new airports, medical colleges, and sports facilities is on the agenda. These projects aim to enhance connectivity, healthcare, and sports infrastructure in Bihar.

Nitish Kumar expressed gratitude, emphasizing the benefits of Centre’s support for Bihar. The ‘Purvodaya’ plan, aimed at promoting overall development in Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh, is a significant step towards regional growth. The government will also back the creation of an industrial corridor in the eastern region, fostering economic activities and job creation.

Special Financial Support for Andhra Pradesh

The Budget 2024-25 focuses on fulfilling commitments made under the Andhra Pradesh Reorganisation Act. Sitharaman announced the government’s dedication to the Pollavaram irrigation project, crucial for the state’s agricultural community. The Finance Minister allocated Rs 15,000 crore for the development of Andhra Pradesh’s capital, Amaravati.

Nara Lokesh, Andhra Pradesh Minister, and TDP leader welcomed the budget boost. He expressed gratitude to the NDA government for their commitment to the state’s reconstruction. Prime Minister Narendra Modi mentioned fast-tracking Bihar’s request for external aid from multilateral development banks.

Education and Development Initiatives

Sitharaman announced e-vouchers for loans up to Rs 10 lakh for higher education in the domestic sector. This initiative will benefit 1 lakh students annually, offering a 3 percent interest subsidy on the loan amount. This step aims to make higher education more accessible and affordable for students across the country.

The government’s dedication to economic growth, infrastructural development, and educational support reflects a comprehensive approach towards enhancing the living standards in Bihar and Andhra Pradesh. These initiatives are expected to drive economic activities, create job opportunities, and improve the overall quality of life in these states.

Aakhir Tak Editor-in-Chief

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