FM-led panel to decide on fund allocation from CRIF for infra projects

The government has constituted a ministerial panel headed by the finance minister to decide about fund allocation for infrastructure projects from the Central Road and Infrastructure Fund (CRIF) announced in the budget.

The four-member committee would approve recommendations made by the sub-committee headed by the Economic Affairs Secretary on list of infrastructure projects to be financed from the CIRF, a government notification said.

Other members of the committee include Minister of Road Transport and Highways; Shipping; Water Resources, River Development and Ganga Rejuvenation, Railways Minister and Human Resource Development Minister, it said.

The 15-member sub-committee has secretaries from different ministries who will examine and evaluate proposals received from ministries on infrastructure projects to be financed by the CRIF.

Besides, it will prioritise the list of infrastructure projects each year for being financed by the fund.

The budget 2018 has amended the Central Road Fund Act, 2000, and has renamed the Central Road Fund as CRIF.

The objective of the amendment is to use the proceeds of the road cess under CRIF to finance other infrastructure projects including waterways, some portion of the railway infrastructure and even social infrastructure including education institutions, medical colleges etc.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)