Nagpur: As Nagpur Municipal Corporation (NMC) and Nagpur Improvement Trust (NIT) have refused to pay any more money and the state government is not giving its full share, work of Nagpur Metro is likely to be hit severely in next financial year. The cost of the project is Rs8,680 crore and MahaMetro needs about Rs1,200 crore from the three agencies.
A source in MahaMetro said that the total share of the NMC and the NIT was Rs868 crore of which the two agencies had given only land worth Rs228 crore. “Both have refused to pay the remaining Rs640 crore. We have been repeatedly urging the state government for the last two years to force them to pay their share of money but are yet to receive a single communication in this regard,” the source said.
The state government itself is not paying its full contribution. MahaMetro had sought Rs518 crore in 2019-20 through supplementary grants but did not get a single penny. Now it needs Rs788 crore of which it was allocated only Rs245 crore in the state budget. Now, the state needs to pay Rs543 crore through supplementary grants. If it bears civic bodies’ share then it will have to sanction another Rs1,183 crore.
Of the state government share, Rs210 crore is equity, Rs181 crore is subordinate debt towards the state taxes and remaining is subordinate debt towards the central taxes.
Former chief minister Devendra Fadnavis has been urged by Metro officials to make the NMC and the NIT pay their share but to no effect. The NMC is ruled by Fadnavis’ party, the BJP. The former CM handled the urban development portfolio, which could issue directives to the NMC and the NIT. Moreover, even during Fadnavis’ regime MahaMetro did not get the entire amount it sought, which is the reason for the huge backlog.
On the other hand the central government and the foreign lending agencies have been prompt in paying their share. “So far, the centre has provided us Rs1,067 crore equity and only Rs47 crore remains. It has paid Rs418 crore as subordinate debt towards the central taxes and only Rs23 crore remains. The lending agencies have given us Rs4,219 crore and assured to pay the remaining Rs302 crore next year,” said the source.
TABLE
Total project cost | Rs8,680 crore
Remaining central contribution | Rs70 crore
Remaining foreign loan | Rs302 crore
State’s balance share | Rs543 crore
Unpaid share of NMC, NIT | Rs640 crore
Total funds more needed | Rs1,555 crore
A source in MahaMetro said that the total share of the NMC and the NIT was Rs868 crore of which the two agencies had given only land worth Rs228 crore. “Both have refused to pay the remaining Rs640 crore. We have been repeatedly urging the state government for the last two years to force them to pay their share of money but are yet to receive a single communication in this regard,” the source said.
The state government itself is not paying its full contribution. MahaMetro had sought Rs518 crore in 2019-20 through supplementary grants but did not get a single penny. Now it needs Rs788 crore of which it was allocated only Rs245 crore in the state budget. Now, the state needs to pay Rs543 crore through supplementary grants. If it bears civic bodies’ share then it will have to sanction another Rs1,183 crore.
Of the state government share, Rs210 crore is equity, Rs181 crore is subordinate debt towards the state taxes and remaining is subordinate debt towards the central taxes.
Former chief minister Devendra Fadnavis has been urged by Metro officials to make the NMC and the NIT pay their share but to no effect. The NMC is ruled by Fadnavis’ party, the BJP. The former CM handled the urban development portfolio, which could issue directives to the NMC and the NIT. Moreover, even during Fadnavis’ regime MahaMetro did not get the entire amount it sought, which is the reason for the huge backlog.
On the other hand the central government and the foreign lending agencies have been prompt in paying their share. “So far, the centre has provided us Rs1,067 crore equity and only Rs47 crore remains. It has paid Rs418 crore as subordinate debt towards the central taxes and only Rs23 crore remains. The lending agencies have given us Rs4,219 crore and assured to pay the remaining Rs302 crore next year,” said the source.
TABLE
Total project cost | Rs8,680 crore
Remaining central contribution | Rs70 crore
Remaining foreign loan | Rs302 crore
State’s balance share | Rs543 crore
Unpaid share of NMC, NIT | Rs640 crore
Total funds more needed | Rs1,555 crore
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