Rs 5,749 cr budget recommended for IMCs on corridor

For the seven integrated manufacturing clusters (IMC) planned to be set up along the Amritsar-Delhi-Kolkata corridor, Rs 5,749 crore Central budgetary commitment has been recommended by an inter-ministerial panel. It recommended the fund support for a period of 15 years.

Setting up of the inter ministerial group (IMG) was approved by the Prime Minister Manmohan Singh to do preparatory work for setting up the Amritsar-Delhi-Kolkata Corridor (ADKIC). The IMG was to examine the feasibility of setting up the corridor using the eastern dedicated freight corridor as a backbone and the structural and financing arrangements that would be required to get the project off the ground.

The IMG panel has stated that the amount should be used for interest subvention, development of trunk infrastructure and share in equity and initial grant for setting up the dedicated agency to handle the project on the lines of the Delhi-Mumbai Industrial Corridor Development Corporation (DMICDC).