Ludhiana Corporation approves projects worth Rs 100 cr
SMART CITIES

Ludhiana Corporation approves projects worth Rs 100 cr

In a meeting held at the mayor's camp office, the civic body's finance and contracts committee (F&CC) approved roughly 250 resolutions pertaining to development works valued at about 1 billion as Municipal elections are anticipated to take place by the end of the year.

The same occurs at a time when the municipal corporation (MC) is struggling to make ends meet, including paying employee salaries. Following the same, there appears to be a lack of precise planning for financing these projects.

During the meeting, which lasted for more than four and a half hours, 277 resolutions were presented, according to the information. About 250 of these were approved by the committee led by mayor Balkar Sandhu, including initiatives funded by the National Clean Air Program (NCAP) and the Smart City Mission. The majority of the projects involved building new roads, installing tube wells, and installing sewer lines.

Due to the impending elections, council members have been putting increasing pressure on the mayor to approve projects for their respective wards.

However, Sandhu claimed that given the already established quota for each councillor, the projects had been approved. Prior to this, the finance committee established annual budgets of 10 million for inner wards and 15 million for outer wards.

“The projects which have to be taken up on priority basis have been approved like installation of tubewells. As the MC has been facing shortage of funds, the other projects have been approved considering the fixed quota of councillors. If the councillor had already got projects approved equal to his quota, then the additional projects have been kept pending for now,” the mayor stated.

According to Sandhy, the state government's failure to release its portion of the goods and services tax (GST), which is close to 1 billion, has left the civic body with a funding shortage.

The MC has already gotten a loan for 1 billion to do development work, and if projects need to be started, the money will be used for that.

See also:
Ludhiana Municipal Corporation to review development projects..
Tamil Nadu tops in smart city fund utilization

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

In a meeting held at the mayor's camp office, the civic body's finance and contracts committee (F&CC) approved roughly 250 resolutions pertaining to development works valued at about 1 billion as Municipal elections are anticipated to take place by the end of the year. The same occurs at a time when the municipal corporation (MC) is struggling to make ends meet, including paying employee salaries. Following the same, there appears to be a lack of precise planning for financing these projects. During the meeting, which lasted for more than four and a half hours, 277 resolutions were presented, according to the information. About 250 of these were approved by the committee led by mayor Balkar Sandhu, including initiatives funded by the National Clean Air Program (NCAP) and the Smart City Mission. The majority of the projects involved building new roads, installing tube wells, and installing sewer lines. Due to the impending elections, council members have been putting increasing pressure on the mayor to approve projects for their respective wards. However, Sandhu claimed that given the already established quota for each councillor, the projects had been approved. Prior to this, the finance committee established annual budgets of 10 million for inner wards and 15 million for outer wards. “The projects which have to be taken up on priority basis have been approved like installation of tubewells. As the MC has been facing shortage of funds, the other projects have been approved considering the fixed quota of councillors. If the councillor had already got projects approved equal to his quota, then the additional projects have been kept pending for now,” the mayor stated. According to Sandhy, the state government's failure to release its portion of the goods and services tax (GST), which is close to 1 billion, has left the civic body with a funding shortage. The MC has already gotten a loan for 1 billion to do development work, and if projects need to be started, the money will be used for that. See also: Ludhiana Municipal Corporation to review development projects.. Tamil Nadu tops in smart city fund utilization

Next Story
Real Estate

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Next Story
Real Estate

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Next Story
Infrastructure Urban

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement