States to lock horns to grab a bounty of 10,000 crores for road projects
The government is all set to roll out Smart City like grand challenge scheme for the states to compete with each other to fetch Rs 10,000 crore every year as a grant for their various road projects, informed a senior official. The state winner will have to meet several parameters which include land acquisition a plethora of other issues which are a prerequisite for a project. The Cabinet note is already crafted and the approval is expected in April. There is also a clause which will bar a state from participating in the entire process once it fails to secure the entire grant within a year informs the official. The funds could be pumped into NHAI projects as well as non-NHAI projects. Union Finance Minister Arun Jaitley allocated Rs 64,000 crore to the Ministry of Road Transport and Highways.
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