Agencies want proactive state role in funding | business | Hindustan Times
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Agencies want proactive state role in funding

With infrastructure projects worth more than Rs2 lakh crore in the pipeline for the upcoming financial year, the multiple agencies carrying out large-scale infrastructure development in the city are hoping for a bigger contribution from the state, in terms of funds. Zeeshan Shaikh reports.

business Updated: Mar 26, 2012 01:05 IST
Zeeshan Shaikh

With infrastructure projects worth more than Rs2 lakh crore in the pipeline for the upcoming financial year, the multiple agencies carrying out large-scale infrastructure development in the city are hoping for a bigger contribution from the state, in terms of funds.

Several large-scale projects aimed at improving the city’s connectivity are in various stages of planning and implementation, such as the much-awaited metro and the Mumbai Trans Harbour Link.

However, money for most of these is coming from the coffers of agencies such as the Mumbai Metropolitan Region Development Authority (MMRDA) and the City and Industrial Development Corporation of Maharashtra Limited (Cidco). The once-rich treasuries of these agencies now face the threat of depletion.

“Most projects are being funded by agencies, from their own resources. It’s time the state comes forward and makes specific provisions for the development of the city’s infrastructure,” a senior official said.

“The state should realise that agencies’ resources are limited. Last year, the only provision made by the state was Rs5 crore for building a floating jetty at Gateway. Such a provision does not help in transforming Mumbai,” he added.