Monday, June 16, 2008

Mumbai dominates Centre's Viability Gap Funding Scheme

Infrastructure projects in Mumbai dominate the Centre's viability gap funding scheme, government statistics indicate says M.S.Kapadia. Mumbai has sought viability gap financing of Rs 3,415 crore together for Charkop-Bandra-Mankhurd line (Rs 5,527 crore) and Versova-Andheri-Ghatkopar line (Rs 2,356 crore) - and the Rs 5,535-crore Western Freeway Sea Link. He further says Hyderabad, however, gets the credit for having the highest approved amount under VGF. For the proposed Rs 8,760 crore-metro rail project in the city, the Centre has given in-principle approval for Rs 1,692 crore.

He also explains that
The Empowered Committee sanctions VGF up to Rs 200 crore. Amounts exceeding Rs 200 crore are sanctioned by the Empowered Committee with the approval of the Union finance minister.