New funding pattern gets board’s approval | india | Hindustan Times
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New funding pattern gets board’s approval

india Updated: Mar 23, 2012 01:10 IST
HT Correspondent

Meeting after a gap of two-and-a-half years, the National Capital Region Planning Board (NCRPB) on Thursday approved a new funding pattern for infrastructure projects to ensure rapid development in the NCR region.

As part of this, the Centre would for the first time provide 15% o f the project cost as grant against loan and Viability Gap Funding for works carried out under Public Private Partnership mode, specifically for water and sewerage projects.

“We have decided on the new funding pattern. The NCRPB was only issuing loans to states till now. Now, we will give a 15% grant to state governments for projects,” urban development minister Kamal Nath told reporters after the meeting.

The grant, Nath said, would be issued for sewage and drainage projects.

Besides, the four member states of NCRPB — Delhi, Haryana, Uttar Pradesh and Rajasthan — also reiterated to fast track the implementation of Rapid Rail Transport System that would connect the satellite cities with the national capital through high-speed rail links.

“The NCRPB would meet within three months to deliberate more on the issue. We are working on three routes —Panipat-Sonepat-Delhi, Meerut-Ghaziabad-Gurgaon-Delhi and Palwal-Rewari-Delhi. We will meet soon to discuss this issue,” Nath said.

Nath also stressed on the sub-regional plans to infuse development in all areas of the NCR and said some states were still working on their master plans. “We have asked the states to expedite work in their master plan after which a review of the NCR Master Plan would be undertaken,” he said.