Aurangabad: The Aurangabad Municipal Administration has intensified efforts to take a loan of Rs 250 crore to pay the share of Smart City. A loan of two hundred and fifty crore rupees will be taken from the Central Bank of India. For that permission is required from the state government. Aurangabad Municipal Administration has presented its proposal to the Urban Development Department of the state. The state government has sought a list of properties to be mortgaged by the Aurangabad Municipal Corporation and a valuation report of the asset to get the loan.
Sources in Aurangabad Municipal Corporation said that the Municipal Corporation needs the permission of the state government to get loan from the bank. District Guardian Minister Subhash Desai has taken the initiative for this. With a view to get immediate permission from the state government, the proposal for the loan of the municipal corporation has been sent to the urban development department of the state. The Office of the Principal Secretary, Urban Development Department has started scrutinizing the loan proposal. For this, a list of all the properties to be mortgaged for loan by the Municipal Corporation and its report has been sought after evaluating the assets.
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State government sought information
The Municipal Corporation has submitted the report on the instructions of the Urban Development Department. Why is Rs 250 crore loan being taken? The state government has also sought its detailed information. The proposal for sanction of loan has been sent by the Urban Development Department to the Minister of Urban Development for approval. With the approval of the Urban Development Minister, the Municipal Corporation will receive a letter to approve the loan proposal. The Chief Accounts Officer of the Municipal Corporation, Vahule expressed the expectation of getting the loan proposal approved from the state government in the coming one week.
Municipal corporation has to give its share in smart city project
It is worth mentioning that after including Aurangabad in the Smart City project, the Central Government has provided a fund of 500 crores. At the same time, for this project, the state government will have to give its share of Rs 250 crore. At the same time, the Municipal Corporation has to pay its share of Rs 250 crore. At present the financial condition of the Municipal Corporation is very bad. In such a situation, Municipal Commissioner and Administrator Astik Kumar Pandey has decided to take a loan of Rs 250 crore from the bank. The process for that is in the final stage.