Amravati takes over Hyderabad as Andhra Pradesh’s new capital

Hyderabad : Speculations are now over! Amravati is the new capital of Andhra Pradesh

Chief Minister Chandrababu Naidu made an official announcement after the cabinet meet on Wednesday

Reason behind choosing Amravati: It was a prosperous and historically important city, says Naidu

The new capital has both "vaasthu balam and nama balam", the chief minister added in his statement

He also said that experts from Singapore are making a plan to develop Amravati and make it a best city in the world

The bigger question will remain about finances as the state reels under fiscal deficit of Rs 18000 crore

For development it needs Rs 20000 crores, government has sanctioned Rs 1500 crore.