Rs 6,500 Cr Likely For External Aid Projects

Posted: Thursday, Feb 28, 2002 at 0000 hrs IST
Updated: Thursday, Feb 28, 2002 at 0000 hrs IST

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New Delhi, February 27:: A total sum of Rs 6,500 crore is likely to be assigned for external aid projects (EAPs) in Union Budget 2002-03, which, for the first time, will have a separate provision for it.

NO TAX ON LAUGHTER: Finance Minister Yashwant Sinha flanked by deputies Balasaheb Vikhe Patil on his right and G Ramachandran on left. Standing behind is his key Budget team (from L to R) CS Rao, Rakesh Mohan, CM Vasudev, S Narayan and D Swarup

Earlier, EAPs used to be clubbed together with projects to be funded by the Centre and a combined sum was assigned for the two. Since there were no figures which indicated the amount to be spent on the two separately, a greater part of the assigned amount was spent on EAPs, so that the government had to shell out a lesser amount on Central projects.

It has now been decided to keep a proper tab on amount spent on EAPs and have a separate allocation for it.

The highest amount of external aid in the coming fiscal is likely to be spent on projects in the road transport & highways ministry. The ministry, which is implementing the ambitious national highway development project, will undertake EAPs worth Rs 2,158 crore. Department of elementary education is next on the list with EAPs worth Rs 1,550 crore to be implemented during the year.

Departments of health and women & child welfare will undertake EAPs worth Rs 650 crore and Rs 398 crore, respectively, while agriculture will have EAPs amounting to Rs 219 crore.

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Rs 6,500 Cr Likely For External Aid Projects

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