Making a statement on the 125th birth anniversary of Ambedkar, Naidu said the proposed memorial would comprise a park, convention centre, Buddhist meditation hall and a library.
The chief minister said a state-level committee under his chairmanship would be constituted to organise and monitor the year-long celebrations in honour of Ambedkar.
He said his government would launch a massive weaker section housing programme to benefit six lakh families to commemorate the 125th birth anniversary of Ambedkar on April 14.
The chief minister also listed out the various initiatives launched by the state government for the welfare of SCs and STs.
Also Read
A sum of Rs 8,724 crore has been earmarked under the Scheduled Castes Sub-Plan while Rs 3,099 crore has been allotted for the Scheduled Tribes Sub-Plan, he said.
"Despite the severe financial difficulties the state has been facing due to the unscientific bifurcation and the resultant revenue loss, my government has been spending highest amounts on welfare of SCs and STs through the sub-plans.