Asian Development Bank will extend a $625 million loan to the proposed $840 million Visakhapatnam-Chennai Industrial Corridor.
- Industrial corridor: To boost manufacturing activity and help economic growth of the hinterland
- Four nodes: Visakhapatnam, Kakinada, Gannavaram-Kankipadu, and Yerpedu-Srikalahasti.
- VCIC was fixed on nearly 800 km of National Highway 16, highly congested VCIC would be part of the proposed East Coast Economic Corridor, from Kolkata in West Bengal to Tuticorin in Tamil Nadu.
- M Venkaiah Naidu, Union Housing and Urban Poverty Alleviation Minister announced Housing and Urban Development Corporation would help build Andhra Pradesh’s capital at Amaravati with an assistance of 7,500 crore.
- Metro rail was under consideration for Visakhapatnam, while tenders would be invited for one in Vijayawada.
Inclusive growth – Chief Minister Chandrababu Naidu admitted that in his earlier stint as Chief Minister of the undivided State, he had focused only on growth in the belief that it would have a trick-e down effect.
- Aim: To take Andhra Pradesh among the top three States by 2022, the number one by 2029 and the preferred destination by 2050.
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