Civic body has to bear 50% of ₹6,000 cr. sanctioned for projects
The Hindu
Grand plans for city’s development approved, but financial burden on BBMP grows
The State Government will bear only 50% of the ₹6,000 crore of funds it had cleared towards a slew of infrastructure projects for Bengaluru under the Chief Minister’s Amrut Nagarothana scheme over a period of three years.
For the remaining ₹3,000 crore, the civic body has been asked to seek a loan for 40% or ₹2,400 crore from the Karnataka Water and Sanitation Pooled Fund Trust, under the Karnataka Urban Infrastructure Development and Finance Corporation. It will have to raise the remaining 10% (₹600 crore) from its own resources.
The State Cabinet, earlier this month, had cleared ₹6,000 crore for projects aimed at decongesting traffic at Hebbal junction, road widening, construction of skywalks, etc. Initially, the Cabinet stated that the Government would release ₹2,000 crore as special grants each year (for three years) to the BBMP.
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