Govt. targets Rs.1.13 lakh-cr infra funding

    Govt. targets Rs.1.13 lakh-cr infra funding
    In order to ensure smooth flow of funds to the on-going and upcoming projects in the road and highway sector, the government has targeted a staggering sum of Rs.1.13-lakh crore through the road and infrastructure cess for the next financial year. This will be almost Rs.30,000 crore more than the collections it was expected to make by the end of this fiscal. For the current financial year, the Centre expects to collect Rs.81,250 crore in Central Road Fund and Rs.4,350 crore through cess in the remaining two months. The road cess was originally created in 1998-99 as a non-lapsable, dedicated fund to build new roads and up-keeping the existing ones. Central Road Fund (CRF) Act 2000, with a levy of just one rupee a litre each on diesel and petrol has grown over the years due to two factors — increase in levy amount and more vehicles guzzling fuel. The levy amount itself has risen over the years — touching Rs.6 a litre in January and in the Budget, the road cess has been replaced by road and infra cess and the levy amount has been increased to Rs.8 a litre, said official sources.
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