Competitive capital-ism: Andhra Pradesh revives Amaravati, Chhattisgarh seeks special grant for Nava Raipur Atal Nagar expansion
Andhra Pradesh demands Rs 15,000 crore for its new capital Amaravati, can’t Chhattisgarh make a similar pitch? The Chhattisgarh government has appealed to the 16th Finance Commission for a special grant of Rs 4,131 crore to bolster its new capital, Nava Raipur Atal Nagar. When FC chairman Arvind Panagariya and his team visited Raipur earlier this month, the state presented a 10-point proposal encompassing infrastructure development such as new roads, cycle tracks, indoor stadium and a substantial IT building spanning 100,000 sq m.
“If the Government of India gives a special financial grant for Amaravati in the forthcoming budget, we should also receive the same,” says Chhattisgarh Finance Minister OP Choudhary, while speaking to ET over the phone. “Nava Raipur, in fact, deserves more, as Chhattisgarh has already invested Rs 8,000 crore from the state coffer.” He adds that the state is exploring various financial instruments to raise funds, including a `1,000 crore Nava Raipur bond, and leveraging a 6,000 acre land bank to attract private sector investment.
Nava Raipur Atal Nagar—previously known as Naya Raipur (“Nava” means new in the Chhattisgarhi dialect)—is set to expand from its initial expanse of 80 sq km to 237 sq km. The new city is located 20 km southeast of Raipur. Of late, state officials have been courting private investors across sectors such as IT (with plug-and-play facilities), pharmaceuticals, electronics, logistics and defence.
NEIGHBOUR’S ENVY?
So, has the revitalised Amaravati project in
