National Capital Region (NCR) India: articles about

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NCR Planning Board (NCRPB)

NCRPB soft loans

UP shows no interest in soft loans for its districts

Dipak Kumar Dash & Purusharth Aradhak TNN 2013/07/03

The Times of India

New Delhi/ Noida: It has a third of all NCR districts yet, surprisingly, Uttar Pradesh has been a reluctant borrower of concessional funds meant for their development. And depending on whom you ask the question, both the state government and the regional planning board get the blame for this state of affairs.

Ghaziabad, Gautam Budh Nagar, Meerut, Baghpat, Hapur and Bulandshahr are the six UP districts included in NCR.

UP has six of the 19 districts comprising the National Capital Region (NCR) but accounts for only 11% of the soft loan provided by the NCR planning board. Haryana, in contrast, has taken 70% of the funds disbursed so far.

Sources in the Union urban development ministry say UP has shown little interest in pitching its projects to NCRPB for availing low-interest loans to augment and create infrastructure. In 2011-12, the board funded 35 projects—30 from Haryana but none from UP. Last year, NCRPB released funds for 23 projects, of which 22 were from Haryana and one from Rajasthan.

The board now offers loans for infrastructure at 7.25% interest with a 0.25 percentage point rebate for prompt repayment. “

An official said UP may not be interested in the NCRPB loans as the amount is small relative to its annual plan. “Moreover, the state can directly tap long-term soft loans from multilateral bodies such as Asian Development Bank (ADB) and World Bank.”