Govt approves BBMP’s 1000 crore loan proposal
The Bruhat Bangalore Mahanagara Palike (BBMP) has been permitted to borrow Rs 1,000 crore loan from banks and financial institutions as it is facing a financial crunch by Karnataka government.
The Corporation recently presented a budget of Rs 9500 crore and has been pleading the state government for financial assistance.
The cabinet has approved the implementation of Rs 221 crore for Quality Improvement in technical institutions sponsored by the HRD ministry.
The program will be taken up in reputed engineering colleges including two run by the government for which the Center extends 75 per cent assistance and the state contribute 25 per cent cost.
A special purpose vehicle, Karnataka State Horticulture Development Agency, will soon be created for the purpose.
The meeting cleared three railway projects – Bagalkot-Kudachi estimated to cost Rs 816 crore, Rs 68 crore Kolar-Chikkaballapur gauge conversions and Bidar level crossing with Rs 5.80 crore cost. The state and Railways have an agreement for implementing railway project on cost sharing basis.
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Opposition challenges BBMP budget
Source: Times of India
Bagalkot-Kudachi, BBMP, Bidar, Bruhat Bangalore Mahanagara Palike, Corporation, Financial assistance, HRD ministry, Karnataka government, Karnataka State Horticulture Development Agency, Kolar-Chikkaballapur, Loan, Quality Improvement, Railways
