Rural development ministry planning for boost in rural roads scheme
The rural development ministry is planning an Rs 12,000-crore boost for the government’s flagship rural roads scheme, the Pradhan Mantri Gram Sadak Yojana (PMGSY). The ministry is seeking funds from the National Bank for Agriculture & Rural Development (Nabard) to provide all-weather road connectivity to eligible habitations.
This will be the second financial push to the scheme from the government just three months into office. Finance minister Arun Jaitley had earlier enhanced scheme allocation to Rs 14,389 crore from Rs 10,160.59 crore allocated by his predecessor in the interim budget.
A senior government official stated that they are seeking Rs 12,000-crore loan in two-three tranches from Nabard to supplement the money that has been allocated to PMGSY. This will accelerate the pace of sanctioning the PMGSY roads and help us provide connectivity to all eligible habitations.
The road work that is being done by the company will get some benefits from the loan that the officials are seeking. This would sure act for the betterment of the ongoing construction work. However the approval for the loan might take some more time.
Source: The Economic Times
finance minister Arun Jaitley, NABARD, National Bank for Agriculture & Rural Development, PMGSY, Pradhan Mantri Gram sadak Yojana, Rural Development Ministry
