Centre to fund Andhra’s Rs 10k-cr Polavaram irrigation project

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New Delhi | Published: September 9, 2016 6:00:22 AM

The Centre’s special package for Andhra Pradesh includes full funding of the Polavaram irrigation project and tax concessions for industries.

The Centre’s special package for Andhra Pradesh includes full funding of the Polavaram irrigation project and tax concessions for industries.

The Centre will fund the Polavaram irrigation project from April 1 2014, the date when it was declared a national project, the government said in a statement.

The Polavaram project, which will cost about R10,000 crore, is being implemented by the state government. Further, the Centre will give incentives of enhanced investment allowance and accelerated depreciation for industries to set up units in backward areas of the state.

However, it did not accord “special category status” as was demanded by the residual Andhra Pradesh and promised by the then Prime Minister Manmohan Singh after creation of a new state Telengana by bifurcating the erstwhile Andhra Pradesh in 2014. Telangana retained the economic powerhouse Hyderabad, which houses IT and pharmaceutical companies as well as PSUs.

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