Various departments of Andhra Pradesh government are assessing the Singapore consortium proposal to be the Master developer of Amaravati. Finance department reportedly asked the government not to give unlimited concessions in the form of rebate in taxes and other incentives as it would be a burden to the state.
In order to bring down the financial burden on the state government, the government is planning to put a cap of about 600 Crore. The state government will take a final call on the quantum of incentives before making public the proposal of the Singapore consortium. Also the agreement will be made between the consortium and CRDA.
In that way, government need not indemnify the loss, if any, caused to the developer. The proposal will be studied indepth and it will made public after the Chief Minister is back from his China tour. This is a very crucial phase in Amaravati construction and has to be dealt very carefully.
