The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval for a special assistance measure for the Successor State of Andhra Pradesh by the way of special dispensation in funding of Externally Aided Projects (EAPs) and funding of irrigation component of Polavaram project.
The Central Government will provide a special assistance to Government of Andhra Pradesh, by the way of repayment of loan and interest for the Externally Aided Projects (EAPs) signed and disbursed during 2015-2016 to 2019-20 by the State.
The Polavaram Project Authority will also assess out the 100 per cent funding cost of the irrigation component in consultation with the Department of Expenditure, Ministry of Finance. However, the overall coordination, quality control, design issues, monitoring, clearances related issues are to be dealt by the Polavaram Project Authority of Ministry of Water Resources, River Development & Ganga Rejuvenation.
Further, the central funding of the Polavaram Irrigation Project shall expedite the completion of the project and increase the irrigation prospects in the State benefitting the people at large.