Thu Mar 06 15:40:00 UTC 2025: ## Union Finance Minister Assures Funds for Polavaram, Visakhapatnam Metro After DPR Approval
**Visakhapatnam, March 7, 2025** – Union Finance Minister Nirmala Sitharaman has stated that funds for the Polavaram project will be released only after the state government provides satisfactory answers to the technical questions raised by the central government. Speaking to the media in Visakhapatnam on Thursday evening, she assured the completion of the Polavaram project as per the promises made during the state’s bifurcation. She attributed the project’s delay to technical issues.
Regarding the Visakhapatnam Metro project, Sitharaman confirmed that the Detailed Project Report (DPR) is under central government review and that funds will be sanctioned only after its approval. She also announced ₹11,000 crore in financial assistance for the development of Visakhapatnam Steel Plant and confirmed continued central government support for the construction of the capital city, Amaravati. She emphasized that all joint central and state projects will receive adequate funding.
The minister also addressed income tax reforms, mentioning the introduction of a new credit assessment model for MSMEs to streamline loan approvals. She discussed the impact of potential tariff increases from the US, stating that a special team led by Minister Piyush Goyal is in the US to negotiate. Sitharaman also highlighted government initiatives like Jal Jeevan Mission and the importance of self-reliance (“Atmanirbhar Bharat”) and “Make in India” programs.
The minister held a post-budget meeting with various business groups, industrialists, and IT representatives in Visakhapatnam, where she launched the new credit assessment model for MSMEs. This model aims to reduce reliance on third-party assessments for loan approvals. The meeting was part of a nationwide series of post-budget discussions, following an earlier meeting in Mumbai.
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