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| Cost escalation to be factored into RIDF projects |
| BS Reporter / Kolkata/ Bhubaneswar Jun 24, 2009, 00:58 IST |
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The cost escalation of the new projects, proposed to be taken up under the Rural Infrastructure Development Fund (RIDF) scheme of the National Bank for Agriculture and Rural Development (Nabard), will be factored into the project cost.
It will be incorporated in the detailed project report (DPR) prepared for the new projects. The High Power Committee (HPC) headed by the state Development Commissioner (DC), which is required to approve the DPRs, also endorses the cost escalation component in the process.
However, for the on-going RIDF projects, the HPC approval will have to be obtained after the sanction of these projects by Nabard. This was decided in the HPC meeting chaired by the Development Commissioner T K Misra today, sources said.
The issue of cost escalation of RIDF projects figured in the discussion of the HPC. Since the preparation of the detailed project report (DPR) takes about 3 to 4 months, there is possibility of the schedule rate being increased.
Similarly, the departments, implementing projects under the scheme, have been advised to prioritise their shelf of projects and submit those project proposals by July 10. Though the normative allocation of Nabard for Orissa during 2009-10 has been pegged at Rs 584 crore, the departments had proposed projects worth Rs 2400 crore.
Keeping the normative allocation in view, the departments like agriculture, fisheries, water resources, rural development and works were advised to prioritise the projects.
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