Chandrababu Naidu vows to build world-class capital with overseas funds

HYDERABAD: Days after pulling out of BJP-led NDA government, the Telugu Desam party president and Andhra Pradesh chief minister Chandrababu Naidu has vowed to build a world-class Greenfield capital city at Amaravati by raising overseas funds if the Centre denies financial support.

While allaying the apprehensions over possible harassment by the BJP government at the Centre after severing ties, Naidu said the Centre cannot deny its legitimate and rightful share in the tax revenues. Addressing the legislators in the state Legislative Assembly on Wednesday, Naidu said he would appeal to the Telugu non-resident Indians across the globe to contribute their mite for building a world class capital city at Amaravati by subscribing to overseas bonds. The chief minister said he would consider extending attractive interest rate and sovereign guarantee against the proposed overseas bonds.

“We are not begging the Centre and the Centre is not doing us any charity. We need to get our legitimate and rightful share of 42% of tax revenues and we will continue to fight our rights,” chief minister Naidu told the legislators.


Elaborating on the utilisation certificates the Andhra Pradesh government has submitted against the funds released by the Centre so far, Naidu has demanded an explanation from the prime minister Narendra Modi on misleading statements of BJP president Amit Shah and other saffron party leaders.