Tamil Nadu Finance Minister Thennarasu clarified that a total of ₹18,564 crore has been spent on the CMRL Phase-II project to date. He provided a breakdown of the expenditure, stating that ₹11,762 crore came from Tamil Nadu's own funds, while ₹6,802 crore was sourced from the loan amount.
Coimbatore: Tamil Nadu Finance Minister Thangam Thennarasu has issued a comprehensive rebuttal to Union Finance Minister Nirmala Sitharaman's recent claim regarding the expenditure on Chennai Metro Rail Limited (CMRL) Phase-II project. The state minister's statement comes in response to Sitharaman's assertion that only ₹5,880 crore of the ₹21,000 crore loan for CMRL had been utilized.
In a detailed statement, Thennarasu clarified that a total of ₹18,564 crore has been spent on the CMRL Phase-II project to date. He provided a breakdown of the expenditure, stating that ₹11,762 crore came from Tamil Nadu's own funds, while ₹6,802 crore was sourced from the loan amount.
The Finance Minister emphasized a crucial point in his rebuttal, highlighting that the Union government has not released a single rupee of its approved share of ₹7,425 crore. This amount was sanctioned by the Public Investment Board for the CMRL Phase-II project.
Thennarasu's statement serves to counter the narrative presented by the Union Finance Minister and provides a clearer picture of the financial situation surrounding the CMRL project. It underscores the significant investment made by the Tamil Nadu government and raises questions about the central government's contribution to this major infrastructure development in the state.
The exchange between the state and union finance ministers highlights the ongoing discussions and potential disagreements regarding the funding and implementation of large-scale infrastructure projects. It also emphasizes the importance of clear communication and transparency in matters of public expenditure and inter-governmental financial arrangements.
In a detailed statement, Thennarasu clarified that a total of ₹18,564 crore has been spent on the CMRL Phase-II project to date. He provided a breakdown of the expenditure, stating that ₹11,762 crore came from Tamil Nadu's own funds, while ₹6,802 crore was sourced from the loan amount.
The Finance Minister emphasized a crucial point in his rebuttal, highlighting that the Union government has not released a single rupee of its approved share of ₹7,425 crore. This amount was sanctioned by the Public Investment Board for the CMRL Phase-II project.
Thennarasu's statement serves to counter the narrative presented by the Union Finance Minister and provides a clearer picture of the financial situation surrounding the CMRL project. It underscores the significant investment made by the Tamil Nadu government and raises questions about the central government's contribution to this major infrastructure development in the state.
The exchange between the state and union finance ministers highlights the ongoing discussions and potential disagreements regarding the funding and implementation of large-scale infrastructure projects. It also emphasizes the importance of clear communication and transparency in matters of public expenditure and inter-governmental financial arrangements.