Latest news with #16thFinanceCommission
Hindustan Times
2 days ago
- Business
- Hindustan Times
GDA seeks ₹2,400 cr for 21 infrastructure projects
Ghaziabad: The Ghaziabad Development Authority (GDA) has submitted a list of 21 infrastructure projects to the Uttar Pradesh housing and urban planning department and sought ₹2,441.9 crore as funds for their execution, officials said Wednesday. Officials said a demand was raised to seek funds under the 16th Finance Commission. The list of projects includes demand for funds for major projects like the Metro extension from Sector 62, Noida to Sahibabad, for construction of slip roads of the Hindon elevated road; for multi-level automated parking in Raj Nagar District Centre; for redevelopment and beautification of 124 acres of city forest at Karhera; and for development of different zonal plan roads, among other facilities. 'The list of 21 projects and the funds required has been sent to state officials. The GDA has only sought the construction costs involved, and the land costs would be borne by the authority,' said GDA media coordinator Rudresh Shukla. The discussions about funds were held during a video conference on May 14, officials said. Senior UP housing board officials recently visited Ghaziabad, and sought construction of two slip roads to join the 10.3 kilometre (km) Hindon elevated road. Under the plan, the GDA has proposed to build two ramps on the Hindon Elevated Road - an entry ramp in Indirapuram on the carriageway from Raj Nagar Extension to UP Gate and an exit ramp in Vasundhara on the carriageway from UP Gate to Raj Nagar Extension. The GDA has sought ₹200 crore funds to execute the project. As regards the Metro extension, the plans have been underway since 2020, but the denial of funding by the state government has hindered the project. In January 2020, the Delhi Metro Rail Corporation (DMRC) submitted two detailed project reports (DPRs) to GDA -- one of ₹1,517 crore for the Sector 62 to Sahibabad route, and the other of ₹1,808.22 crore for the Vaishali to Mohan Nagar route. In 2023, the authority decided to go ahead with the Sector 62 to Sahibabad route. The UP government had denied funds for the link in January 2023. Later, in May 2023, it again declined the authority's request for 50% funding for the proposed Metro Link. In January 2024, the DMRC submitted revised cost estimates of ₹1,873.31 crore for this route. The GDA in its list has now sought funds of ₹1,873.31 crore for the Metro extension. 'Since GDA has limited funds, it has sought funding for these 21 projects from the Centre's 16th Finance Commission. The authority, with a lot of effort, was able to settle its two major loans amounting to about ₹1,500 crore in April. So, we now intend to go ahead with these projects,' Shukla added.
Hindustan Times
2 days ago
- Politics
- Hindustan Times
Disaster response: UP submits proposals to finance panel, urges rule revision for funds
LUCKNOW The Uttar Pradesh government on Wednesday submitted a series of proposals to the 16th Finance Commission to fortify its disaster response and mitigation mechanisms. It strongly advocated inclusion of state-notified disasters—such as heatwaves, lightning strikes, unseasonal rains, storms, snakebites and drownings — in the national list of recognised disasters. This push stems from the reality that these incidents disproportionately impact Uttar Pradesh, stated a release from the state government media cell. Notably, as many 4,534 deaths were reported due to state-notified disasters, compared to 176 from nationally recognized ones, in the financial year 2024–25. Key among these proposals is the request to revise the rules governing the State Disaster Response Fund (SDRF) and the State Disaster Mitigation Fund (SDMF) to ensure faster and more effective relief for disaster-affected citizens, it said in a statement. Chief minister Yogi Adityanath has urged the central government to acknowledge the severity of these challenges and to extend appropriate support. In line with this, the state has proposed increasing the permissible expenditure limit for state-notified disasters from 10% to 25%, reflecting the scale and intensity of their impact, according to the statement. Another notable recommendation seeks to allow flexibility in fund allocation by permitting inter-head budget transfers within disaster funds. This would ensure optimal utilisation of resources, especially in cases where certain allocations remain unspent, it noted. Additionally, the state said it has requested approval to construct dedicated buildings for District Disaster Management Authorities (DDMAs) in every district — a move currently not permitted under existing SDRF and SDMF guidelines. A demand has also been made to allocate 1% of the fund for administrative expenses, which would support the creation of a more robust and responsive administrative framework for disaster management. These proposals are driven by the CM's vision of making disaster management more flexible, efficient and people-centric. With the approval and implementation of these recommendations, the state is poised to become a model for disaster management nationwide, ensuring the safety and well-being of millions of its citizens.
Hindustan Times
2 days ago
- Politics
- Hindustan Times
Disaster response: UP submits proposals to Finance Commission, urges rule revision for funds
Lucknow, Highlighting disparity between death counts under state-notified disasters and the nationally recognised ones, the Uttar Pradesh government on Wednesday said it has submitted a series of proposals to the 16th Finance Commission to fortify its disaster response and mitigation mechanisms. Key among these proposals is the request to revise the rules governing the State Disaster Response Fund and the State Disaster Mitigation Fund to ensure faster and more effective relief for disaster-affected citizens, it said in a statement. "The government has strongly advocated for the inclusion of state-notified disasters, such as heatwaves, lightning strikes, unseasonal rains, storms, snakebites, and drownings, in the national list of recognised disasters," it said. "This push stems from the reality that these incidents disproportionately impact Uttar Pradesh. For instance, in the financial year 2024-25, 4,534 deaths were reported due to state-notified disasters, compared to 176 from nationally recognised ones," the government said. According to the statement, Chief Minister Yogi Adityanath has personally taken the lead in urging the central government to acknowledge the severity of these challenges and to extend appropriate support. In line with this, the state has proposed increasing the permissible expenditure limit for state-notified disasters from 10 per cent to 25 per cent, reflecting the scale and intensity of their impact, it said. Another notable recommendation seeks to allow flexibility in fund allocation by permitting inter-head budget transfers within disaster funds. This would ensure optimal utilisation of resources, especially in cases where certain allocations remain unspent, it noted. Additionally, the state said it has requested approval to construct dedicated buildings for District Disaster Management Authorities in every district — a move currently not permitted under existing SDRF and SDMF guidelines. A demand has also been made to allocate 1 per cent of the fund for administrative expenses, which would support the creation of a more robust and responsive administrative framework for disaster management.
Time of India
4 days ago
- Business
- Time of India
GDA seeks central funds for Noida-Ghaziabad metro link
Ghaziabad: Ghaziabad Development Authority (GDA) has taken a fresh initiative to revive Noida Electronic City-Sahibabad metro project — an extension of the Blue Line metro corridor — by suggesting that it should be funded by grants made under 16th Finance Commission. A letter to this effect has been written to the state govt, seeking Rs 2,441 crore. GDA vice chairperson Atul Vats said on Monday, "We have written to UP govt. We have quoted a grant of Rs 2,441 crore, out of which Rs 1,873 crore is for the metro project." O ver 5 lakh people stand to benefit from the project, who for a long time have been demanding metro connectivity through Indirapuram, Vasundhara and Vaishali townships. Vats said, "In line with this, DMRC has also sent a proposal to the central govt for 16 metro corridors in the country, which include the 5km Noida Electronic City to Sahibabad metro corridor. We think that makes a strong case in favour of the said project because not only will it provide much-needed connectivity with Noida, but the corridor will also serve as an extended arm of the Namo Bharat corridor, which passes through Sahibabad. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với sàn môi giới tin cậy IC Markets Tìm hiểu thêm Undo " As for alignment, the 5km route from Noida Electronic City metro station will have five stations on an elevated platform, which include Vaibhav Khand, DPS Indirapuram and Shakti Khand stations along CISF road, which falls under Indirapuram township. From Kanawani culvert, the route will enter Vasundhara and from passing through Vasundhara, it will end at Sahibabad. An additional two stations — Vasundhara Sector 5 and Sahibabad stations — will cater to the Vasundhara and Vaishali commuters. In the pipeline since 2018, Noida Electronic City to Sahibabad metro corridor could not take off in all these years due to a lack of funds. GDA, in the last seven years, suggested funding patterns, including the creation of a special purpose vehicle (SPV) and urging the central and state govt to fund the project, but all were turned down. In 2018, when the DPR was made, the cost of the project was estimated to be Rs 1,517 crore, which has now increased to Rs 1,873 crore. In a survey conducted last year, the land requirement for the proposed corridor will be 26,691 sqm, of which 7,690 sqm will be private land, which alone will cost Rs 223 crore. The Finance Commission, established under Article 280 of the Indian Constitution, is a constitutional body that recommends the distribution of tax revenues between the central and state govts every five years. Ghaziabad, like other districts, has been receiving grants annually.
The Print
5 days ago
- Business
- The Print
Karnataka seeks bigger share of central taxes, Rs 1.15 lakh crore for Bengaluru infrastructure
'The imbalance in fiscal returns is so much that for every rupee Karnataka contributes to union taxes, it receives only 15 paise in return,' the CM told reporters after the meeting. In the meeting, which lasted for more than an hour, Siddaramaiah flagged that there has been a 'stark imbalance in fiscal returns' despite Karnataka contributing nearly 8.7 per cent of the national GDP with just 5 per cent of the population and ranking second in the country in GST collections. New Delhi, Jun 13 (PTI) Karnataka Chief Minister Siddaramaiah on Friday met 16th Finance Commission Chairman Arvind Panagariya, demanding a larger allocation for the state from the central tax pool and Rs 1.15 lakh crore investment to strengthen Bengaluru's infrastructure for the five-year period beginning April 1, 2026. Speaking about the discussion, Siddaramaiah said: 'The meeting was very cordial and the chairman was very receptive to our demands… We have told them that the tax devolution to states should be done fairly and rationally.' The CM pointed out that the reduction in Karnataka's share under the 15th Finance Commission — from 4.71 per cent to 3.64 per cent — resulted in a cumulative loss of over Rs 80,000 crore during the award period. Karnataka's per capita devolution has also dropped significantly from 95 per cent to 73 per cent of the national average between 14th and 15th Finance Commissions, despite increased GDP contribution. Siddaramaiah called for 'critical reforms' to make the fiscal devolution system more growth-oriented, predictable and fair, while highlighting three main concerns: the growing disparities in per capita devolution; the flawed design of revenue deficit grants; and the unpredictable nature of state-specific grants. In the memorandum submitted to the Commission, Karnataka demanded that the share of taxes devolved to states be increased to at least 50 per cent, and that cess and surcharges be capped at 5 per cent. The state also recommended including union non-tax revenues in the divisible pool. 'The Centre collects cess and surcharge on various commodities. We don't have a share in it. If they collect more than 5 per cent it should come under the divisible pool,' Siddaramaiah said. For sharing funds among states, the chief minister suggested that each state retain about 60 per cent of what it contributes, with 40 per cent going to less-developed states — ensuring both growth and equity. To make the formula fairer, Karnataka has proposed reducing the weight of the income-distance criterion by 20 per cent and reallocating the same to reflect state's fiscal contribution as measured by the share in national GDP, so that high-performing states are not penalised but encouraged. Siddaramaiah also questioned the effectiveness of revenue deficit grants. 'About Rs 38,000 crore revenue deficit grant was given to Kerala, but not to Karnataka. Similarly, a special grant of Rs 5,495 crore was recommended for Karnataka by 15th Finance Commission but Government of India refused to give it to us,' he said. As a result, the state government has recommended replacing 'discretionary' special grants with a formula-based allocation of 0.3 per cent of Gross Union Receipts. However, the state has requested grants for Bengaluru development and other critical projects if the Commission continues with such provisions. 'Karnataka's fiscal strength fuels national growth. It is time to ensure that growth is not penalised but rewarded. We urge the commission to adopt a balanced, forward-looking approach to devolution,' Siddaramaiah said. The overall share allocated to all states from central taxes was reduced to 41 per cent for 2021-26, as against 42 per cent in the previous cycle, primarily due to the creation of Union Territories of Jammu and Kashmir and Ladakh. Siddarmaiah was accompanied by Economic Advisor to CM Basavaraya Reddy, Chief Secretary Shalini Rajneesh, Principal Secretary of Finance Ritesh Singh, and other state officials. The 16th Finance Commission, established in December 2023, is tasked with recommending tax revenue distribution between the central government and states for 2026-31. The commission must submit its recommendations by October 31, 2025. PTI LUX DRR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
