STOCK MARKET BSE NSE

Bengaluru gets Rs 139.5 crore to better air quality

Karnataka also received its second tranche of funds to offset GST compensation cess shortfall along with 15 other states on Monday.

Published: 03rd November 2020 04:36 AM  |   Last Updated: 03rd November 2020 01:29 PM   |  A+A-

A blanket of smog engulfed Bengaluru on Monday morning, indicating a rise in air pollution levels in the city

A blanket of smog engulfed Bengaluru on Monday morning, indicating a rise in air pollution levels in the city. (Photo| Ashishkrishna HP, EPS)

Express News Service

BENGALURU: Based on the recommendations of the 15th Finance Commission, the Union Finance Ministry on Monday released Rs 2,200 crore as the first installment to 15 states to improve air quality in their million-plus cities. Karnataka has received Rs 139.5 crore from the funds for Bruhat Bengaluru Mahanagara Palike as urban local body grant.

The entire amount released to Karnataka has been allocated to Bengaluru alone. “This will help the beneficiary States to undertake air quality measures, including capacity-building of the local bodies within their million-plus cities/agglomerations,” the ministry said. 

Karnataka also received its second tranche of funds to offset GST compensation cess shortfall along with 15 other states on Monday. The Union Finance Ministry, in a press release, said that Rs 6,000 crore was being released to 16 states and three Union Territories under the special window of borrowing. “This amount was raised at a weighted average yield of 4.42 per cent. This amount will be passed on to the States/UTs at the same interest rate, which is lower than the cost of borrowings for the States and UTs,” the ministry stated. 

The allocation for each stage from the Rs 6,000 crore was unclear with the ministry not giving a breakup. Officials of Karnataka finance department too are awaiting details to determine Karnataka’s allocation from the second tranche.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

edexworks
flipboard facebook twitter whatsapp