The CM also said the government would take necessary steps to give Backward Classes (BC) status to Kapu community as soon as the Backward Classes Commission submits its report.
The community has been agitating for inclusion in the BC list.
"Rs 1,000 crore would be allocated by the state government for Kapu Corporation in the 2016-17 Budget.
"We have appointed the Backward Classes Commission under the chairmanship of Justice (Retd) Manjunath and asked it to submit report in nine months. Once the Commission gives its report, we will take steps to include Kapus in the BC list," Naidu said.
"My government will do everything to reduce the economic inequalities in the society. We are always with the backward classes and our programmes are aimed at their uplift," he said.
State Deputy Chief Minister N Chinna Rajappa, Eluru MP Maganti Venkateswara Rao, state ministers P Manikyala Rao, Kollu Ravindra among others were present in the event.