FM Sitharaman announces substantial benefits for Bihar and Andhra
ECONOMY & POLICY

FM Sitharaman announces substantial benefits for Bihar and Andhra

Finance Minister Nirmala Sitharaman unveiled a substantial financial aid package for Andhra Pradesh alongside major infrastructure initiatives for Bihar during her Budget 2024 presentation in the Lok Sabha.

Addressing the commitments under the Andhra Pradesh Reorganisation Act, Sitharaman emphasised the government's efforts to fulfill these obligations. She highlighted the crucial need for capital in the state and pledged special financial assistance through multilateral agencies. For the fiscal year, Rs 15,000 crore will be allocated, with additional funding earmarked for subsequent years.

Turning to Bihar, Sitharaman announced the establishment of an industrial node in Gaya as part of the Amritsar-Kolkata industrial corridor. This initiative is expected to stimulate economic growth in the eastern region. Additionally, she outlined significant investments in road infrastructure, including the Patna-Purnea expressway, Buxar-Bhagalpur highway, Bodhgaya-Rajgir-Vaishali-Darbhanga connectivity, and a new two-lane bridge over the Ganga in Buxar, totaling Rs 26,000 crore.

Acknowledging the demands of Bihar and Andhra Pradesh, voiced notably by Nitish Kumar's JDU and Chandrababu Naidu's TDP, Sitharaman also announced Rs 11,500 crore for flood control measures in Bihar to mitigate the impact of flooding.

Finance Minister Nirmala Sitharaman unveiled a substantial financial aid package for Andhra Pradesh alongside major infrastructure initiatives for Bihar during her Budget 2024 presentation in the Lok Sabha.Addressing the commitments under the Andhra Pradesh Reorganisation Act, Sitharaman emphasised the government's efforts to fulfill these obligations. She highlighted the crucial need for capital in the state and pledged special financial assistance through multilateral agencies. For the fiscal year, Rs 15,000 crore will be allocated, with additional funding earmarked for subsequent years.Turning to Bihar, Sitharaman announced the establishment of an industrial node in Gaya as part of the Amritsar-Kolkata industrial corridor. This initiative is expected to stimulate economic growth in the eastern region. Additionally, she outlined significant investments in road infrastructure, including the Patna-Purnea expressway, Buxar-Bhagalpur highway, Bodhgaya-Rajgir-Vaishali-Darbhanga connectivity, and a new two-lane bridge over the Ganga in Buxar, totaling Rs 26,000 crore.Acknowledging the demands of Bihar and Andhra Pradesh, voiced notably by Nitish Kumar's JDU and Chandrababu Naidu's TDP, Sitharaman also announced Rs 11,500 crore for flood control measures in Bihar to mitigate the impact of flooding.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code