India's Finance Minister Nirmala Sitharaman laid down a slew of financial aid for Bihar and Andhra Pradesh in her Budget 2024 speech on Tuesday.
What Happened: This year's Union Budget focuses highly on the development of Bihar and Andhra Pradesh. Sitharaman in her budget speech announced the development of new airports, medical colleges, and highways in Bihar, along with special financial support for Andhra Pradesh.
The Union government has earmarked ₹26,000 crore for various road projects in Bihar, including the Patna-Purnea expressway and Buxar-Bhagalpur expressway. The government has also proposed the development of an industrial nod at Gaya on the Amritsar Kolkata industrial corridor. Multiple schemes have also been announced to promote tourism in Rajgir, Gaya, and Nalanda.
A detailed initiative called “Purvodaya” will also be created to foster comprehensive development in Bihar, Jharkhand, West Bengal, Odisha, and Andhra Pradesh.
The finance minister also announced financial support for Andhra Pradesh.
"Recognising the state's need for capital, we will facilitate special financial support through multilateral agencies. In the current FY, ₹15,000 crore will be arranged with additional amounts in future years," Sitharaman said.
The government is fully committed to the completion and financing of the Polavaram irrigation project, which is crucial for Andhra Pradesh and its agricultural community, she added.
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