AP Government to issue bonds for Amaravati construction

Vastavam web: The Andhra Pradesh Government is now mulling to issue bonds to raise Rs 42000 crore for the construction of Amaravati. The skeletal outline of the proposal has been placed before the CM, who in turn asked them to come up with a comprehensive draft. The CRDA wants to fix the interest rate of the bond at 8 per cent so that it can attract the investors.CRDA sources say that the government wants to involve overseas Telugus in the capital construction by making them buy the bonds, which would be titled Amaravati Bonds or Smart City Bonds.