Kerala - Thiruvananthapuram   

Hike in Plan funds carryover for local bodies

THIRUVANANTHAPURAM: Finance Minister T.M. Thomas Isaac has announced a 10 per cent increase in the carry-over of Plan funds for local self-government institutions (LSGIs).

Presenting the budget for 2007-08 on Thursday, Dr. Isaac said that so far the LSGIs had been permitted to carry over only 20 per cent of the Plan funds, but a 10 per cent increase was proposed “considering the special circumstances this year.”

Special sanction would be accorded to civic bodies to settle outstanding arrears of Kerala State Electricity Board and Kerala Water Authority from the Plan funds. A sum of Rs.79 crore was set apart as State component for various Centrally-sponsored schemes, mainly the National Rural Employment Guarantee Scheme (NREGS).

The Kerala Rural and Urban Development Finance Corporation would be restructured as a financial agency for providing loans to LSGIs from 2008-09. An additional amount of Rs.2.50 crore would be provided for preparing master plans and detailed town plans.

A special package would be prepared for the region extending from Kozhikode to Manjeswaram considering its backwardness and development potential. An amount of Rs.20 crore was set apart for land acquisition for the Kozhikode city improvement project and Rs.10 crore for implementing the proposals of the Paloli committee.

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