M’rashtra plans Rs. 3-lakh-cr for infra projects

    Nitin Gadkari
    The Maharashtra government is actively considering to create a separate fund of Rs. 3.5 lakh-cr to complete a slew of infrastructure projects in the state in an attempt to overcome the rising public debt and allied constraints, said official sources, claiming that the size will be finalized by a high-level committee, which will be headed by the additional chief secretary (finance). The government plans to mobilise funds from leading foreign institutional investors, foreign funds, global banks as well as from the multi-lateral agencies including World Bank, Asian Development Bank, besides, borrowings and seeking assistance from Japan International Cooperation Agency (JICA). The proceeds of the planned fund will be utilised in key projects, including completion of rural railway projects worth over Rs. 25,000cr, 415 incomplete and pending irrigation projects of Rs. 80,000cr, the Mumbai-Nagpur super expressway worth Rs. 30,000-cr and also the transmission, distribution, and up-gradation projects at a cost of Rs. 50,000-cr and state highways entailing an investment worth Rs. 30,000cr, they added.
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