AP Cabinet has formally decided to establish the Economic Development Board
Andhra Pradesh Chief Minister N. Chandrababu Naidu
Hyderabad: In an attempt to attract Rs 2 lakh crore investments in five years in core sectors, the Andhra Pradesh Cabinet has formally decided to establish the Economic Development Board.
The Cabinet, which met here on Monday, has ratified the proposal to form the Board, which aims to increase the growth rate at an ambitious 10 to 12 per cent annually.
“The Chief Minister will head the Board. The Economic Development Boar envisages an increase in the size of the economy from $80 billion to $2 trillion in the next 35 years,” Palle Raghunatha Reddy, minister for IT said.
The Cabinet also ratified the Aviation Policy, which aims to increase the number of air travellers from the present 1.7 million to 25 million in the next five years.
Decision to upgrade the Visakhapatnam, Vijayawada and Tirupati as international airports was taken.
Six new airports at Kuppam, Dagadarthi, Tadepallegudem, Orvakallu, Donakonda, Nagarjuna Sagar will be developed under public private partnership mode.
( Source : dc correspondent )
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