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No shortage of funds for NCR Towns says Urban Development Minister, Mr. Nath

Postby dheerajjain » Thu Mar 22, 2012 9:30 pm

Outlook report 22-Mar-12
Centre Formulates Funding Pattern for NCR Projects PTI | New Delhi | Mar 22, 2012
To promote rapid development in the NCR, the Centre today formulated a new funding pattern for the states under which they would be provided 15 per cent of the project cost as grant against loan and Viability Gap Funding for works carried out under PPP mode.

The Centre and four states -- Delhi, Haryana, Uttar Pradesh and Rajasthan -- were unanimous in implementing the Rapid Rail Transport System that would connect satellite cities with the national capital through high-speed rail links.

Briefing reporters about the 32nd meeting of the National Capital Region Planning Board, Urban Development Minister Kamal Nath said the NCR was one of the "unique" regions in the world that covers 108 cities and towns with 62 per cent of urban areas.

"We have decided on the new funding pattern. The NCR Planning Board was only issuing loans to states till now. Now we will give a 15 per cent grant to state governments for projects," he said.

"To promote Public-Private-Partnership mode, will also give 15 per cent viability gap so that all government funds can be leveraged," Nath said.

The grant will be issued for sewage and drainage projects and the Minister made it clear that there was no shortage of funds for development in NCR.

On the Rapid Rail Transport System, Nath said the Board will again meet within three months to deliberate more on the issue and that efforts would be make sure that people from the satellite towns reach the capital from their homes in an hour.

"We are working on three routes -- Panipat-Sonepat-Delhi, Meerut-Ghaziabad-Gurgaon-Delhi and Palwal-Rewari-Delhi. We will meet soon to discuss this issue," he said.

Nath said the NCR Planning Board has given loans to 265 projects in the region worth Rs 18,000 crore out of with Haryana topping the list with Rs 5,089 crore, Uttar Pradesh Rs 880 crore, Rajasthan Rs 350 crore and Delhi Rs 650 crore.

He also stressed on the sub-regional plans to infuse development in all areas of the NCR and said some states were still working on their master plans.

Nath also said the states have been asked to expedite work on their master plan after which a review of the NCR Master Plan would be undertaken.

Haryana Chief Minister Bhupinder Singh Hooda, Delhi Lt Governor Tejinder Khanna and Delhi Urban Development Minister A K Walia also participated in the meeting.

To questions that projects in Uttar Pradesh were not given importance, the Minister dismissed the suggestions and said the state would be given its due.
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