DIPP pushes for 11-fold increase in budget outlay for DMIC in FY15
The Department of Industrial Policy and Promotion (DIPP) has urged the Finance Ministry to increase the budget outlay for the prestigious Delhi-Mumbai Industrial Corridor (DMIC) by 11 times – to Rs. 7,478 crore – in FY15.
The manifold increase proposed by the DIPP for the FY15 budget outlay for DMIC will give a substantial push to urbanisation as well as the creation of infrastructure; thereby fulfilling the BJP’s two main electoral promises.
The DIPP’s request for the manifold hike in the DMIC budget outlay is an indication that the DIPP – which is the nodal body for the DMIC project, an India-Japan venture – was dissatisfied with the estimate of barely Rs. 693 crore for the DMIC in the 2014-15 interim budget.
The request to increase the DMIC’s budget outlay for FY15 to Rs. 7,478 crore in the forthcoming regular Budget will help the DMIC develop trunk infrastructure for the five smart industrial cities as well as six other projects which have been planned in the initial phase of the mega public-private partnership project.
The five smart industrial cities for which DMIC is expected to develop trunk infrastructure include Gujarat’s Ahmedabad-Dholera Special Investment Region (SIR); the Shendra-Bidkin Industrial Park city near Aurangabad in Maharashtra; Gurgaon’s Global City; Greater Noida’s Integrated Industrial Township; and the Integrated Industrial Township Vikram Udyogpuri near Ujjain in Madhya Pradesh.
Source – The Financial Express
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