Central Road Fund collection about Rs 70k cr in FY’16: Govt

By: | Published: August 8, 2016 4:13 PM

Collection under Central Road Fund (CRF) more than doubled to about Rs 70,000 crore during the last fiscal, Parliament was informed today.

The Ministry of Finance levies cess on petrol and high speed diesel oil, which is initially credited to the consolidated fund of India and thereafter the amount is transferred by appropriation, after adjusting cost of collection to the CRF. (PTI)The Ministry of Finance levies cess on petrol and high speed diesel oil, which is initially credited to the consolidated fund of India and thereafter the amount is transferred by appropriation, after adjusting cost of collection to the CRF. (PTI)

Collection under Central Road Fund (CRF) more than doubled to about Rs 70,000 crore during the last fiscal, Parliament was informed today.

“The funds accrued under the CRF during 2013-14, 2014-15 and 2015-16 were Rs 19,263 crore, Rs 26,108 crore and Rs 69,809 crore (provisional) respectively,” Minister of State for Road Transport and Highways Mansukh Lal Mandaviya told Rajya Sabha in a written reply.

The Ministry of Finance levies cess on petrol and high speed diesel oil, which is initially credited to the consolidated fund of India and thereafter the amount is transferred by appropriation, after adjusting cost of collection to the CRF.

“The Ministry allocates funds to the states/union territories for development of state roads under the CRF scheme. The funds for development of state road under CRF scheme are allocated to the states/UTs on the basis of 30 per cent weightage to fund consumption and 70 per cent weightage to geographical area,” the Minister said.

The funds under the CRF are not-lapsable.

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