Financial Daily from THE HINDU group of publications
Saturday, Dec 31, 2005
Financial Daily from THE HINDU group of publications Saturday, Dec 31, 2005 |
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Roadways Industry & Economy - Taxation 1 pc of road cess to be earmarked for safety fund Our Bureau
New Delhi , Dec. 30 THE Prime Minister's Committee of Infrastructure recently decided that 1 per cent of road cess accruing to the Central Road Fund would be used as a dedicated safety fund, said the Department of Road Transport and Highways Secretary, Mr L.K. Joshi, here on Friday.NHAI, meanwhile, is working on a paper to finalise the modalities of this fund. The road cess was about Rs 6,000 crore this year. "We expect the fund size to be about Rs 60 crore," said the NHAI Chairman, Mr Santosh Nautiyal. The fund would be spent on research and development activities to ensure road safety, he said, adding that the fund is yet to be operational.
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