Chief Minister N. Chandrababu Naidu, Deputy Chief Minister Pawan Kalyan, Chief Minister Nara Lokesh and Union Minister Pemmasani Chandrasekhar welcomed Union Minister Nirmala Sitharaman on her arrival at the CRDA office in Amaravati on Friday.
Deputy Chief Minister Pawan Kalyan said the coalition government is committed to ensuring development that is visible and beneficial to every citizen. He was speaking at the foundation-laying ceremony of the headquarters of fifteen banks and insurance companies in the financial city of Amaravati in the presence of Union Finance Minister Nirmala Sitharaman, Chief Minister Nara Chandrababu Naidu and others on Friday.
Terming the event as a positive sign for the growth of the state, he said setting up the headquarters of multiple banks and insurance companies at one place was a rare achievement that Amaravati had now realised. According to him, the merger of these institutions will lead to significant economic benefits, streamline financial activities in the capital region and mark a significant step in shaping Amaravati as a center for financial transactions.
He also acknowledged the crucial role of farmers who gave their land to the capital out of faith in Chief Minister Chandrababu Naidu’s vision. Expressing gratitude to the Union Government, he thanked the Center for providing financial support for the reconstruction of Amaravati, the Polavaram project and the proposed steel plant. He also expressed his appreciation to Prime Minister Narendra Modi and the Union Finance Minister for their consistent support to Andhra Pradesh.
Union Minister Pemmassani Chandra Sekhar praised Ms. Sitharaman for her leadership in managing India’s financial sector and termed her an inspiration to newbies in politics. He noted that she has the rare distinction of presenting the Union Budget eight times, which ranks her among India’s most influential economic policy makers. He credited her with stabilizing public sector banks by implementing major consolidation reforms that protected them from potential financial crises.
HRD Minister Nara Lokesh launched a scathing attack on the previous government, accusing it of trying to undermine the Amaravati capital project through the Three Capitals Plan. He said the region had suffered due to political experiments aimed at dividing the state capital into three parts. He claimed that while the farmers were fighting for the idea of One State, One Capital, the former regime had spent ₹450 million to build a palace for one individual.
Andhra Pradesh Finance Minister Pyyavula Keshav praises Ms. Sitharaman, describing her as firm but fair in releasing financial resources, likening her to a mother who provides funds exactly when needed. According to him, managing the economy of a huge country like India is not an easy task.
Published – 28 Nov 2025 20:54 IST
