Andhra Pradesh Government Increases Annuity Payments for Farmers in Amaravati Expansion
Rise in annuity among Andhra sops to farmers for Amaravati expansion ph-2
Hindustan Times
Image: Hindustan Times
The Andhra Pradesh government has announced enhanced annuity payments and loan waivers for farmers contributing land to the Amaravati capital region's expansion. Annuity payments will rise from ₹30,000 to ₹40,000 per acre annually for ten years, with additional annual increases, as part of a plan to acquire 16,666 acres for infrastructure development.
- 01Annuity payments for farmers will increase to ₹40,000 per acre annually.
- 02Loan waivers of up to ₹1.5 lakh will be provided to farmers.
- 03The second phase of land pooling aims to acquire 16,666 acres for capital infrastructure.
- 04The total land contributed by farmers will reach approximately 50,000 acres.
- 05Farmers are encouraged to support the government's vision for Amaravati's development.
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The Andhra Pradesh government has introduced a series of incentives for farmers in the Amaravati region as part of the second phase of land pooling for capital city expansion. Chief Minister N. Chandrababu Naidu announced that annuity payments will increase from ₹30,000 to ₹40,000 per acre annually, with an additional ₹3,000 increase each year for a duration of ten years. Furthermore, farmers will receive loan waivers of up to ₹1.5 lakh. This phase aims to acquire 16,666.57 acres for critical infrastructure projects, including a railway station and smart city. The total land contributed by farmers will reach an estimated 50,000 acres when combined with previous acquisitions. Naidu urged farmers to cooperate, promising rapid progress and support from the central government, while drawing parallels with the significant growth seen in Hyderabad's land values.
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This initiative will provide financial relief to farmers through increased annuity payments and loan waivers, enhancing their economic stability as they contribute land for development.
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