Aurangabad : The Central Government had approved a fund of Rs 500 crore after including Aurangabad in the Smart City Planning. Many development works are going on in the city under this fund. Due to the weak economic condition of the Municipal Corporation, it was proving difficult for the Municipal Corporation to pay its share in this scheme.
The municipal administration had filed a proposal with the Central Bank of India to get a loan of Rs 250 crore from the bank to pay its share. On Wednesday, the bank approved the loan and transferred an amount of 250 crores to the account of the Municipal Corporation. From this amount, a share of Rs 182 crore will be paid for the smart city scheme.
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Funds of Rs 491 crore will be available from Aurangabad Smart City
It is worth noting that out of Rs 500 crore sanctioned by the central government for smart city scheme, Rs 294 crore has been received from the center so far. At the same time, 250 crores has to be paid from the state government and 250 crores to the Municipal Corporation in its share. The state government has so far paid Rs 147 crore out of its share. Earlier, the Municipal Corporation has paid Rs 68 crore out of its share of Rs 250 crore. Soon the share of Rs 309 crore will be received from the central and state government. At the same time, the Municipal Corporation will also have Rs 182 crore. Due to which funds of Rs 491 crore will be available from Aurangabad Smart City.
Many development works will be done rapidly in the city
On Wednesday, Central Bank of India approved a loan of 250 crores to the Municipal Corporation, Municipal Commissioner Astik Kumar Pandey, while giving information to the journalists, told that more development work will be done in the city due to getting loan from the bank. An amount of Rs 182 crore will be paid for the share of the Municipal Corporation for the smart city scheme from the loan received from the bank. Smart city project is worth 1 thousand crores. In this, the central government will give 500 crores. At the same time, the Municipal Corporation and the State Government have to pay their share of 250-250 crores. Recently, to get the loan, the Municipal Administration had filed a proposal with the Urban Development Department of the state. The District Guardian Minister Subhash Desai took the initiative to approve the above proposal from the state government. Due to which the Urban Development Department also immediately approved the said proposal of the Municipal Corporation. On Wednesday, the Central Bank of India approved a loan of 250 crores to the Municipal Corporation as soon as the state government approved it.