 "Odisha moots Rs 1,000 crore corpus fund for urban infra")
The corpus fund will help implement the provisions of the comprehensive development plan (CDP) for Bhubaneswar prepared by IIT-Kharagpur and supplement the normal expenditure of Bhubaneswar Development Authority (BDA). “We have proposed a corpus fund of Rs 1,000 crore for infrastructure development in the city. The fund will supplement the normal expenditure of BDA. It will also help in the execution of infrastructure projects such as storm water drainage, master plan roads, low-cost housing, slum development and beautification drives,” said D K Singh, secretary, panchayati raj who is also in charge of H&UD department.
“The concept is still at a preliminary stage. We need government approval to float the corpus fund,” he said.
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While the fund will be managed by BDA, entities such as the public works department, public health engineering organisation and electricity distribution company Central Electricity Supply Utility of Odisha Ltd (Cesu) will execute the projects. “People will benefit immensely from the fund as the execution of infrastructure projects will become easier and dependence on budgetary allocation will be minimal,” said BDA vice chairman Krishan Kumar. A BDA source said proceedings from auctioning of government land in the city will now be diverted to the fund. Besides, 75 per cent of the premium paid to the authority for developing public-private-partnership (PPP) projects will also go to the fund. The fund will supplement resources available for various urban infrastructure projects. However, it cannot be used as substitute to funds and grants available under schemes and projects run by the state government and the Centre.
The Revenue & Disaster Management department is likely to set aside 50 acres land near the city to help raise the proposed corpus fund.