Amaravati, May 2 (NationPress) Prime Minister Narendra Modi has officially recommenced the Amaravati development initiatives during a grand public event on Friday, almost a decade after he initially laid the foundation stone for the new capital of Andhra Pradesh.

During the event, he pressed a button to symbolically lay the foundation for 74 projects valued at Rs 49,040 crore in the company of Governor S. Abdul Nazeer, Chief Minister N. Chandrababu Naidu, Deputy Chief Minister Pawan Kalyan, as well as central and state ministers and leaders from the ruling coalition.

Among the significant projects are the High Court, Legislative Assembly, State Secretariat, and four towers designated for Heads of Departments (HoDs).

PM Modi also laid the groundwork for additional projects and inaugurated initiatives valued at Rs 8,000 crore, which include establishing a missile test range and supporting works related to the National Highway Authority of India (NHAI) and Railways.

In his speech, Chief Minister Naidu pledged to finalize the state capital within three years and expressed intentions to invite the Prime Minister for the inauguration.

Naidu emphasized that it was PM Modi who initially laid the foundation stone for Amaravati and criticized the former YSR Congress Party government for undermining the Amaravati vision through their detrimental policies.

On October 22, 2015, PM Modi set the ball rolling by laying the foundation stone for Amaravati.

Only a few projects worth approximately Rs 8,000 crore were executed by the previous TDP administration before the development was halted post their loss in 2019, as the YSR Congress Party government, led by Y.S. Jagan Mohan Reddy, opted to pursue a strategy involving three state capitals.

This decision was met with significant backlash from farmers in 29 villages of Amaravati who had contributed their lands for the capital's development.

Following the TDP-led NDA's return to power in June last year, Naidu made the decision to resume work on this ambitious project.

The state government has earmarked funds for various projects amounting to Rs 77,250 crore, with tenders already issued for works worth Rs 49,000 crore.

The central government has committed to providing comprehensive support for these initiatives. Additionally, the World Bank and Asian Development Bank (ADB) have agreed to extend loans totaling Rs 15,000 crore, while the Housing and Urban Development Corporation (HUDCO) has sanctioned a loan of Rs 11,000 crore.