Presently with the chances of the Centre's assistance to AP is dull and remote, Andhra Pradesh state government is mulling to raise the funds for the construction of Capital Amaravati through Bonds. Meanwhile AP state government is toying with the idea of issuing bonds worth Rs 42,000 Crore for the construction of people's capital Amaravati. Accordingly the CRDA (Capital Region Development Authority (CRDA) officials have put the idea before CM Chandrababu who has principally agreed to the proposal and asked the officials to provide full details.
As per report a specially constituted committee is said to be working on the rate of the interest for the bonds to be issued to raise the funds for AP's capital city. Further the RBI's savings bond has an interest of 7.75% while the small saving schemes such as the National Savings Certificate offer 7.6%. Moreover the CRDA officials are suggesting that 8% fixed interest would draw the investors.
Furthermore AP is said to be fuming over the Centre for its very little
help. Hence the Centre has released a meager Rs 1000 Crore for the projects in
Vijayawada and Guntur, whereas Rs 1500 Crore has been granted for the
construction of Amaravati whereas it is estimated that the capital city would
cost Rs 52,000 Crore for the state government. Presently AP state government is
planning to come up with the special bonds for the Overseas Telugu community
who would be interested to take part in the capital construction.
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