Union Cabinet's recent approval Chennai Metro Rail Project Phase 2 as the ‘Central sector’ project, Central Government to finance almost 65 per cent of the estimated cost

Union Cabinet's recent approval Chennai Metro Rail Project Phase 2 as the ‘Central sector’ project, Central Government to finance almost 65 per cent of the estimated cost https://www.taxtmi.com/news?id=27975 Reclassification as a Central sector project shifts primary funding and loan liabilities to the Central Government, which will treat existing multilateral and bilateral loans as loans to the Centre, reroute disbursements through the Central Government budget to the implementing company as pass-through assistance, and designate the Ministry acting through the implementing company as project executing agency; the implementing company remains responsible for loan repayment, with the State obliged to provide support if the company cannot repay. en-us Mon, 07 Oct 2024 09:26:35 +0530 Mon, 07 Oct 2024 09:26:35 +0530 TaxTMI RSS Generator Union Cabinet's recent approval Chennai Metro Rail Project Phase 2 as the ‘Central sector’ project, Central Government to finance almost 65 per cent of the estimated cost https://www.taxtmi.com/news?id=27975 Reclassification as a Central sector project shifts primary funding and loan liabilities to the Central Government, which will treat existing multilateral and bilateral loans as loans to the Centre, reroute disbursements through the Central Government budget to the implementing company as pass-through assistance, and designate the Ministry acting through the implementing company as project executing agency; the implementing company remains responsible for loan repayment, with the State obliged to provide support if the company cannot repay. News - Mon, 07 Oct 2024 09:26:35 +0530 https://www.taxtmi.com/news?id=27975