Economy

Rs 6,300-cr bonanza as Cabinet panel okays funding to buy 10,000 buses

Our Bureau New Delhi | Updated on March 10, 2018 Published on August 13, 2013

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Providing boost to the auto industry, the Cabinet Committee on Economic Affairs (CCEA) today approved funding for procuring up to 10,000 buses and building ancillary infrastructure for urban transport for all cities, towns, urban agglomerations with a special emphasis on hill States.

An official statement puts the project cost at Rs 6,300 crore and the total estimated Additional Central Assistance (ACA) at about Rs 4,450 crore.

The funding for procurement is to be done under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM). The financial support for ancillary infrastructure components will be a maximum Rs 20 crore for cities with a million-plus population and Rs 1 crore and above for smaller cities. There will be no State-wise allocation and the funds will be allocated on the basis of needs, capacity and preparedness of the States, the statement said.

The CCEA also approved a proposal for providing non-Plan budgetary support of Rs 128.26 crore for liquidation of statutory dues (provident fund, gratuity, pension, Employees State Insurance and bonus) and salaries and wages from January last year till March this year for 10 Central public sector enterprises, including Hindustan Cables., HMT Ltd., HMT (Watches), HMT (Chinar Watches) Ltd, Tungbhadra Steel Products and Hindustan Photo Films.

Published on August 13, 2013
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