Support Rebuilding AP, CM Naidu Appeals To Finance Commission

Amaravati: Andhra Pradesh Chief Minister N Chandrababu Naidu presentation before the 16th Finance Commission on his vision ahead for the State floored the Chairman and Members of panel here on Wednesday.

In his presentation, Naidu said their 2047 economic targets include a 15 per cent annual growth rate, transform AP into a $2.4 trillion economy, reach $42,000 per capita income, increase exports to $450 billion, extend average life expectancy to 85 years and achieve 100 per cent literacy and reduce unemployment to below 2 per cent. To achieve these targets, Rs40 lakh crore in investments are required by 2029. The State’s current GSDP is Rs18.25 lakh crore, with a target of Rs29.29 lakh crore by 2028-29.

While explaining about What's Governance and Swarnandhra Vision-2047, he sought the commission to increase the vertical devolution share from 41 per cent to 50 per cent and address decline in horizontal devolution to Southern States—from 24.3 per cent (10th Finance Commission) to 15.8 per cent (15th FC). He said AP’s share in horizontal devolution is below its share in national GDP and population, causing fiscal disadvantage and asked the panel to extend special financial assistance to the State, emphasising that rebuilding AP is crucial not only for its future but also for the nation's progress.

“If you help us stand today, we will play a key role in India’s success tomorrow,” he said, urging the commission to understand the State’s unique challenges and support its vision for a ‘Swarnandhra 2047’.

Calling Arvind Panagariya a visionary, Naidu recalled how Panagariya had recommended transferring the Polavaram Project to the State during his tenure in NITI Aayog. “We aim to complete Polavaram before the upcoming Pushkarams, and I invite you to its inauguration,” he added.

The Chief Minister praised Prime Minister Narendra Modi’s leadership, under which India is evolving into a developed nation. From being mocked for slow growth, India is now the 5th largest economy and is set to become the 3rd largest by 2028. “By 2047, we will be the world’s largest economy,” he stated, stressing India’s rise in global stature.

“Despite serving four terms as CM, I’ve never faced challenges of this magnitude,” said Naidu, criticising the previous government's financial recklessness, including pledging even Tahsildar offices and mortgaging future revenues. “We are determined to overcome this and rebuild the state through good governance, balancing welfare and development.” Following the presentation, the members of the Finance Commission expressed their views on various subjects. The Chairman and members of the commission appreciated the AP Government’s WhatsApp Governance initiative. Commission Chairman Arvind Panagariya asked the CM whether this innovative model had been brought to Prime Minister Narendra Modi’s attention. The CM replied that it hadn’t yet, but he planned to explain the project during his scheduled meeting with the Prime Minister next month.

Finance Commission member Anne George Mathew recalled her visit to Hyderabad 30 years ago, observing the city’s remarkable development since then, which she credited to Chandrababu Naidu’s vision. She expressed confidence that Amaravati would be developed to similar standards under his leadership.

Deputy Chief Minister Pawan Kalyan, Finance Minister P Kesav, Chief Secretary K Vijayanand and others were present,