Andhra Pradesh government is estimating that it would need around 30,000 acres to construct the new capital of the state with all the amenities and facilities. Municipal minister Narayana who heads the state committee of the new capital said the government needs approximately 30,000 acres and we will following three procedures in acquiring lands. He also added that the construction of capital will be taken care by International consultancies and already McKinsey, L & T companies have come forward in providing assistance.

KC Sivaramakrishnan Committee for selection of suitable place for new capital will submit its report by August last week and from then, the government will start figuring the possibilities of acquiring lands. Narayana said, farmers will play a key role in capital construction as it needs sufficient land. But each and every farmer will be compensated as per the value and there won't be any loss to any farmer. With International standards, AP capital will make its own mark. According to the highly placed sources, AP capital will be similar like Putrajaya that serves as the federal administrative centre of Malaysia.

On the other hand, AP government is planning to raise Rs 40,000 crores as debt and already it has prepared few guidelines to accumulate Rs 28,000 crores.  However the Central government has to approve this decision as no state government ever took such bold decision in gathering such a mammoth amount. But if the government manages to assembles Rs 40,000 crores it will have to pay Rs 8,000 crores as interest every year and AP government is expecting clear the debt within a period of 20 years.

(AW: Vamshi)