Rajeev Chandrasekhar's official website - Member of Parliament

GOVERNMENT OF INDIA

Ministry of Urban Development

 

RAJYA SABHA

UNSTARRED QUESTION NO 1779

TO BE ANSWERED ON 10.08.2006

Bangalore under JNNURM

1779.

SHRI RAJEEV CHANDRASEKHAR

Will the Minister of URBAN DEVELOPMENT be pleased to state:-

(a)whether any money has been released to Bangalore city under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM);

(b)if so, the amount and its purpose;

(c)if not, whether there is a timeline or schedule for release of money and its amount;

(d)the process being followed for the release of this money to Bangalore;

(e)the status of Bangalore Metro Project;

(f)the exact timeline for the project to be commissioned;

(g)the total investment contemplated over the various phases and manner in which it is expected to be financed; and

(h)whether there are any clearances pending relating to this project either at State or Central level?

ANSWER

THE MINISTER OF STATE IN THE MINISTRY OF URBAN DEVELOPMENT
( SHRI AJAY MAKEN )

(a)   : No, Sir.

(b)   :Does not arise.

(c)&(d)   :Release of funds under JNNURM would take place if and when City Development Plan and Detailed Project Reports are submitted by the city and their approval by the Competent Authority after appraisal.

(e)   :Government of India has accorded approval for the project. Board of Directors of the Special Purpose Vehicle viz. Bangalore Metro Rail Corporation (BMRC) has been reconstituted with Secretary (UD) as Chairman. Empowered Committee and Group of Ministers to monitor and review progress of the project have also been constituted.

(f):    Work on the project has already started. Completion period of the project is 5 years.

(g)   :Total investment will be Rs.6395/- crore and the funding pattern is as under:

Completing Cost   -  Rs.6395

                        Contribution by   :    GoI        GoK
                        Equity                  -   15%       15%
                        Subordinate debt  -  10%        15%
                        Senior term debt  -   45%
The  Government  of  Karnataka will waive  its  taxes  and duties.   There will, however, be no waiver of taxes and  
duties by the Government of India.
Japan Bank for International Cooperation (JBIC) has also agreed to give a loan of Rs.1795 Cr.

 (h)    :No, Sir.