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Finance deptt sleeps after NABARD sanctions Rs 354 Cr 4/18/2016 12:06:28 AM Arun Singh Early Times Report Jammu, Apr 17: The lethargy of State Finance Department can be well gauged from the fact that National Bank for Agriculture and Rural Development (NABARD) sanctioned 96 projects of roads and bridges but the department is in deep slumber, has not started further process for the execution of these projects. Sources told Early Times that recently State Government got sanction of 96 NABARD projects worth Rs 354 crore under Rural Infrastructure Development fund (RIDF)-XXI and funds, in this connection has been released to the Finance Department which further failed to initiate process and is yet to convey the concerned departments for the sanctions. "Theses 96 projects are mainly of Public Works Department comprising roads and bridges which were cleared by the NABARD but finance department till date has not conveyed to the Chief Engineers of Public Works (Road and Building) Department due to which further codal formalities have not been processed by the PWD," they alleged further adding that Finance Department being guarantor of all NABARD projects, is accountable to make the further procedures fast so that department whose projects were sanctioned could approach the finance department for further release of funds. Astonishingly, Finance Department is sitting on the funds released by NABARD as a result, the fate of 96 projects of roads and bridges is hanging in balance. "It was the duty of Finance Department that it should have conveyed the concerned department about the sanction of projects well in time so that PWD further initiated tendering process on the projects. The State is already going through financial crunch and many projects suffered delay in their execution but Finance Department is not bothered to expedite the process", an official source averred.   Share This News with Your Friends on Social Network     Comment on this Story

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