Key Points
A key ally in Prime Minister Narendra Modis coalition government is demanding financial support of more than Rs 1 lakh crore ($12 billion) for the state he runs in southern India, according to people familiar with the matter, adding pressure on the federal budget...
N Chandrababu Naidu, head of the Telugu Desam Party and also chief minister of Andhra Pradesh state, met Modi Thursday to request an aid package to build the capital city in the state and fund other projects..
Naidu has requested a substantial portion of the support to be paid from this years national budget, the people said, asking not to be identified because theyre not authorized to speak publicly about the matter...
Modis Bharatiya Janata Party failed to win an outright majority for the first time in a decade in recently held national elections, and is reliant on Naidus TDP and another coalition party Janata Dal (United) to run the government..
Thats equivalent to about Rs 7000 croreRs 50,000 crore to build the new capital of Amaravati, of which Rs 15,000 crore to be allocated in the current fiscal yearRs 12,000 crore this fiscal year for the Polavaram irrigation project, and a commitment for more funds going forwardRs 15,000 crore over the next five years to clear overdue debtRs 10,000 crore for infrastructure development under the federal governments 50-year loan scheme..
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