AP approves building bonanza for construction sector

In order to ensure smooth and inclusive regional development and also to provide justice to protesting Amaravati farmers, Andhra Pradesh Assembly has passed a Bill to develop three capitals in Visakhapatnam, Kurnool and Amaravati. The Region Development Authority and Repeal Bill 2020 were passed with a voice vote. According to the resolution, the move is aimed at decentralization of governance and for ensuring inclusive development of all regions. Replying to the debate on the Bills, the Chief Minister said the capital was not being shifted from Amaravati as it would continue as the legislative capital. The state is developing two more capitals to do justice to other regions. Visakhapatnam would be the executive capital while Kurnool will act as the judicial capital. Among others, the move will also open up huge business avenues for the real estate and construction sector. For the farmers of 29 villages of Amaravati, who continued their protest, the CM announced that farmers giving their lands for the capital will be paid annuity term for 15 years as against 10 years announced by the previous government, and the ex-gratia payment to farmers has been increased from ₹2500 per month to ₹5000 per month.