Rapid boost: State govt releases Rs 350cr

  • | Monday | 18th September, 2023

GHAZIABAD: The RapidX project got a shot in the arm as the state government disbursed Rs 350 crore to the NCR transport corporation (NCRTC) as the second instalment of the Rs 1,306 crore budgetary allocation for the project for the 2022-23 financial year. According to the fund-sharing ratio, the state government will shell out 17% of the Rs 30,274 crore project cost, amounting to Rs 5,146.6 crore. So far, it has disbursed Rs 2,130 crore. The Centre will bear 20% of the cost, with Rs 3,172.7 crore released till now, and Delhi 3%. On the other hand, the Asian Development Bank has lent one billion dollars as part of the loans other financial institutions have pledged for the project.The UP government in the financial year 2022-23 allocated Rs 1,306 crore for the RapidX project. The NCRTC received Rs 350 crore earlier, and the state government has now released the second instalment of Rs 350 crore. The project has not been in a cash crunch as the central, UP and Delhi governments have time-to-time released funds for it, said an official with NCRTC.The UP governments share in the RapidX project is 17% of the total project cost, and it has released Rs 2,130 crore so far. The Centre will bear 20% of the total cost and has already disbursed Rs 3,172.7 crore, said the official, adding that Delhi will share 3% of the cost.The NCRTC had suggested heads to raise the Rs 30,274 crore funds. According to the NCRTC, the governments could hike the stamp duty by 1% in areas in the transit-oriented development zone and increase the purchasable floor area ratio (FAR) in the influence zone of the project.We also published the following articles recentlyUP releases 350 crore for Delhi-Meerut RRTS projectThe Uttar Pradesh government has allocated Rs 350 crore for the development of the Delhi-Meerut Regional Rapid Transit System (RRTS). The RRTS is a high-speed rail corridor connecting Delhi, Ghaziabad, and Meerut. The project is expected to start operations by 2025. The funds will be used to accelerate the pending tasks in the Ghaziabad and Meerut sections of the project. The initiative is being executed by the National Capital Region Transport Corporation. A recent incident on the Delhi-Meerut Expressway highlights the need for better monitoring of public transport drivers to prevent accidents caused by driver fatigue.Karnataka Government approves 91 investment projects worth Rs 7,660 croreThe State Level Single Window Clearance Committee (SLSWCC) in Karnataka has approved 91 industrial investment proposals worth Rs 7,659.52 crore. These proposals have the potential to create 18,1416 job opportunities in the state. The committee also approved 26 projects involving more than Rs 50 crore investment, totaling Rs 5,750.73 crore, which could generate 13,742 jobs. Some of the top investors include Maruti Suzuki India and Tata Semiconductor.PM to inaugurate rail projects worth Rs 6,350 crore, address rally during Chhattisgarh visitPrime Minister Narendra Modi will address a public rally in Raigarh district of Chhattisgarh and dedicate rail sector projects worth around Rs 6,350 crore during his visit to the state. This comes after the opposition BJP launched its March of Change campaign to oust the ruling Congress party. Modi will also lay the foundation stone for nine critical care blocks and distribute sickle cell counseling cards. The visit is expected to boost the morale of BJP workers ahead of the upcoming assembly polls. Security arrangements have been made for the PMs visit.

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