Pinarayi Vijayan Has Asked The Central for Rs 2,150 Crore For The Silverline Project

Pinarayi Vijayan Has Asked

Silverline Project, Pinarayi Vijayan, the chief minister, has addressed Union Finance Minister Sitharaman, requesting funding for the Silver-Line construction. In the forthcoming Union budget, he recommended the Centre to spend Rs 2,150 crore. In his message, the chief minister stated that the SilverLine construction is part of the national rail program and that the ministry stated in Parliament during the 2021 budget address that all projects in the rail network plan would be finished by 2030.

“This result is in line with Indian government strategy and will make a significant contribution to the state’s economic growth. The development is also in keeping with the Make in India and Atma Nirbhar Bharat programs. Which aim to improve the country’s overall production capacity,” said the chief minister. “I recommend that you set up Rs 2,150 crore in the budget proposal for the project’s overall equity. It is also asked that the co-financing plan now pending with the Ministry of Finance be authorized and presented; to the bank for further consideration and approval,” he stated.

The Central for Rs 2,150 Crore For The Silverline Project

This letter is significant since officials from the Union Railway Ministry will meet with state authorities; on Monday in Delhi to work on the project. Despite UDF resistance, the government in Kerala is moving on with the project. The CM and CPM have made it plain that there would be no turning back on the initiative; which is necessary for the state’s growth.

According to reports, Mr. Vijayan and Mr. Vaishnav discussed seeking cash for the project from international financial institutions. Several organizations, including JICA, ADB, AIBK, and KFW, have offered to extend reduced and lengthy loans for the project, the Chief Minister had remarked earlier in the Legislature.

The government aimed to raise a total of Rs 33,700 crore. Nevertheless, a few of Silverline’s potential funders requested a credit guarantee from the federal government. Mr. Vijayan’s shuttered discussion with Mr. Vaishnav sparked concern that the Central Govt, particularly the Union Railways, might find it difficult to grant such assurance.

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