Taxing fuel to pay for monorail by irmafia on 27 October, 2012 - 11:30 AM | ||
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irmafia | Taxing fuel to pay for monorail on 27 October, 2012 - 11:30 AM | |
The government will impose a five per cent surcharge on fuel sold in the State, for 10 years, to finance Mass Rapid Transit Systems (MRTS) like the monorail projects coming up in Kozhikode and Thiruvananthapuram. The decision has figured in the government order approving the Detailed Project Report (DPR) prepared by the Delhi Metro Rail Corporation (DMRC) for introducing monorail in the 23-km Medical College Junction-Ramanattukara stretch in Kozhikode city and according administrative sanction for the 14.2-km first phase from Medical College Junction to Meenchanda.Separate orders are to be issued to collect fuel surcharge and to exempt the project from all State taxes and duties. The phase I of the Kozhikode monorail project is estimated to cost Rs.1,991 crore and is scheduled for completion by September 2015.A special purpose vehicle (SPV) — Kerala Mono Rail Corporation — with the Chief Minister as chairman and comprising Ministers for PWD, Industries, Power, Finance, Urban Affairs, Panchayat and Health; Principal Secretary, PWD; Additional Chief Secretary, Transport; and CEO, Kerala Road Fund Board; will implement the monorail projects in Kozhikode and Thiruvananthapuram.The administrative, financial, and technical matters of the project will be decided by the board of directors which will have a technical expert in due course. However, government’s sanction will be needed for taking policy decisions. The project will be executed through international competitive bidding. |