Andhra Pradesh government today released Rs 5 crore to the Amaravati Metro Rail Corporation.
The state government, which has fast tracked the project, is ensuring that money is no constraint for the implementation of the project. The amount has been released towards subscription fee. Ever since the Amaravathi Metro Rail Corporation is set up government periodically releasing grant-in-aid to the corporation to meet the preparatory expenditure.
The AMRC was created in August, 2015. In September, N P Ramakrishna Reddy ( a retired special secretary,) has been appointed Managing Director for three years. Towards end of the September 2015, government has released an amount of Rs 10 crore to Delhi Rail Metro Rail Corporation, the executive agency of the project, as a token fund to enable DMRC to start preparatory action on Amaravati Metro Rail Corporation, Vijayawada. In the first half of this month an amount of Rs 50 lakh has been released to meet the operational cost of AMRC. Today government has given administrative sanction for the release of Rs 5 crore to the corporation.