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States to lock horns to grab a bounty of 10,000 crores for road projects

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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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Source:Indiainfoline
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