Despite Maha loan waiver, major infra projects not funded by govt to be on track
Notwithstanding the Rs 34,000 core crop loan waiver scheme, the Maharashtra government has projected that the implementation of a slew of development projects worth Rs 2 lakh crore across the state will be carried out smoothly. This is because these projects don’t have the government exposure as the funds are being mobilized by the government undertakings through internal accruals and multiple instruments including long term loan from domestic and foreign lenders including Japan International Cooperation Agency.
Some of the projects being actively pursued by the government include Mumbai metro expansion (Rs 82,172 crore), Mumbai Nagpur expressway (Rs 40,000 crore),Mumbai Transharbour Link (Rs 17,750 crore), Navi Mumbai international airport (Rs 16,000 crore), Mumbai costal road (Rs 13,000 crore), Pune metro (Rs 11,420 crore), Nagpur metro (Rs 8,680 crore) and Bandra Versova sea link (Rs 7,500 crore). These projects are under various stages of implementation and they are expected to be complete in stages from 2019 onwards.
A government officer, who did not want to be identified, told DNA, “The projects which are funded through the budgetary allocation in road, irrigation and power sectors may suffer as the government may introduce 30% cut in spending to implement the crop loan waiver scheme. …read more
