Chandigarh : The Punjab BJP’s plan to ensure the speedy development of urban areas held by it seems to have succeeded with the proposal for the formation of a municipal infrastructure development fund being sent to the Governor today for the issuance of an ordinance to this effect. Earlier, after a protracted struggle, the BJP had convinced its ally, the SAD, of the need for a special fund to launch infrastructure projects in urban areas. The state Cabinet approved the proposal recently. The BJP demanded the creation of the special fund after it was revealed that Rs 700 crore had been handed over to the Punjab Infrastructure Development Board to undertake development work in Akali constituencies. The new infrastructure fund will have a dedicated revenue of Rs 200 crore which will be availed of by diverting part of the revenue generated through surcharge on VAT to the fund. Disclosing this here today to TNS, Local Bodies Minister Manoranjan Kalia said the fund would ensure speedy and need-based development in urban local bodies every year since Rs 200 crore would accumulate in the fund every year.
Kalia said the cash kitty in the fund would be developed further by creating an escrow account for which the government would stand guarantee. He said the fund had a target to attract loans of Rs 900 crore from various consortiums of banks ensuring a Rs 1,100 crore kitty for spending on development works. According to sources, the fund will allow BJP legislators to recommend development work in their constituencies, which could hold the party in good stead in the Assembly elections in 14 months’ time. According to the present formula, the corporations of Amritsar, Ludhiana, Patiala, Bathinda and Jalandhar will get Rs 100 crore each. As many as eight BJP constituencies are located in the territorial limits of these corporations. Besides, “A” class municipalities will get Rs 10 crore each, “B” class municipalities Rs 5 crore and “C“ class Rs 3 crore each.
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