Amaravati: The Andhra Pradesh government has secured a significant breakthrough in funding for key infrastructure projects. State Municipal Administration and Urban Development Minister Narayana announced that HUDCO (Housing and Urban Development Corporation) has approved the release of ₹15,400 crore in loans to the state.
The decision, finalized during a HUDCO board meeting in Mumbai on Wednesday, allocates ₹11,000 crore for the construction of Amaravati’s capital infrastructure and ₹4,400 crore for TIDCO (Township and Infrastructure Development Corporation) housing projects.
Minister Narayana revealed that TIDCO faced setbacks under the previous YSRCP government due to mismanagement and diversion of funds, which eroded its financial credibility with banks and institutions. Despite multiple appeals, HUDCO had refrained from providing loans during that period. However, under the new alliance government, confidence in the state’s fiscal management has been restored, prompting HUDCO’s decision to release the funds.
The minister confirmed that the funds will be handed over to TIDCO within a week, enabling the completion of long-pending housing projects and the development of Amaravati.
