Vizag races to secure ₹5,000-crore Central fund under City Economic Region scheme
Visakhapatnam is preparing to secure a ₹5,000-crore Central fund under the Union Government's City Economic Region scheme. The city is among seven urban clusters selected for this initiative, aiming to enhance its economic development. A meeting with the Chief Minister is scheduled to refine the proposal for the funding, which is intended to support various infrastructure and industrial projects.
- ▪Visakhapatnam is the only city from Andhra Pradesh chosen for the City Economic Region scheme.
- ▪The funding will be used to improve connectivity, upgrade civic utilities, and build industrial zones.
- ▪The ultimate goal is to develop the Visakhapatnam Economic Region into a $125-billion economy by 2032.
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VISAKHAPATNAMThe Visakhapatnam Economic Region (VER) has started preparations to secure the ₹5,000-crore Central fund allocated under the Union Government’s newly launched City Economic Region (CER) scheme.Visakhapatnam is the only city from Andhra Pradesh and among the seven urban clusters chosen nationwide for the implementation of the scheme. It is also among the three cities chosen from the South India.To formalise the State’s approach, a high-level VER delegation led by Chief Executive Officer N.
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