begging bowl of 8-10,000 crs for Bengaluru

Rs 8,000 crore sought for Bangalore infrastructure

BANGALORE: The state government has sought a special grant of Rs 8,000 crore from the Centre to address Bangalore’s infrastructure needs. Chief Minister B S Yeddyurappa who met Union Finance Minister Pranab Mukherjee in Delhi recently in a delegation had requested the latter to provide Rs 8,000 crore for infrastructure development in IT capital which contributes $ 14 billion to the country’s export earnings. Karnataka’s representative in Delhi Dhananjay Kumar on Wednesday told reporters that the state government had estimated that Rs 36,000 crore were needed in the next six years to fulfil the infrastructure needs of Bangalore.
He said that the state government alone cannot mobilise such a huge amount even if the funds under JNNURM and State Finance Commission were taken into consideration. There would be a gap of about Rs 16,000 crore, he added.
Kumar said Mukherjee had promised to consider the demand sympathetically.
During his meeting with Mukherjee, Yeedyruappa is said to have requested him to release Rs 500 crore to the state on ad-hoc basis towards the losses incurred due to floods and drought last year.
The CM also requested the Centre to provide loans to small and medium enterprises (SMEs) at interest rates on par with prime lending rates.
“As of now SMEs are being charged 2 to 2.5 per cent more interest than the prime lending rates,” Kumar said.

http://www.expressbuzz.com/edition/story.aspx?Title=Rs+8,000+crore+sought+for+Bangalore+infrastructure&artid=r/tv/Lpov6k=

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Filed under JNNURM, Privatisation of Municipal Services, Urban Infrastructure Finance, Urban reforms Agenda

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