Andhra Pradesh cabinet cleared the draft bill for the creation of a Capital Region Development Authority for the state's new capital area near Vijayawada.
The AP Chief Minister is set to be Chairman of the CRDA, which would replace the existing Vijayawada-Guntur- Tenali-Mangalagiri Urban Development Authority.
The CRDA Bill is scheduled to be introduced in the AP State Legislature on December 19 for approval, ministers said.
Talking informally to reporters after the four-hour long cabinet meeting chaired by AP Chief Minister N Chandrababu Naidu, some ministers said that a legal framework would be given to the land pooling system to securing lands for the construction of the state's capital city near Vijayawada.
The AP cabinet also cleared other Bills like the VAT Act amendments for introduction in the legislature's winter session which begins tomorrow, they said.
The AP government hopes to garner an additional revenue of more than Rs 2,000 crore through the sale of red sanders in a global auction, which would boost the financial position of the fund-starved state.
The AP government has also decided to act tough against red sanders smugglers to check illegal sale of precious wood in the international market, the ministers said.