AP govt to increase spending on infra

The Andhra Pradesh government will increase the spending on infrastructure projects to create demand for steel and cement and jobs in the construction sector.

As part of  the measures to give a thrust to the slowing economy, the government has brought out a bill to amend the Fiscal  Responsibility and Budget Management (FRBM) Act to borrow about Rs 6,000 crore for spending on  infrastructure and irrigation projects.

Speaking at a programme organised by the Federation of Andhra Pradesh Chambers of Commerce and Industry, he hoped the state will continue to be the favoured destination of investors and sought the cooperation of the industry to sustain it.