Road Fund
Recognising the need for mobilising greater non budgetary resources
for development and and maintenance of the PWD road network, regulatory
and institutional initiatives were undertaken for generating more
user charges and mobilising greater private sector involvement
in road projects. The Kerala Road Fund was constituted under the
Kerala Road Fund Act 2001 which became law on 23rd November 2001.
The purpose of the Road Fund is to finance
- routine recurrent and periodic maintenance of PWD roads.
- development of existing road network system including
upgrading of any road maintained by the PWD
- construction of new roads wherever necessary
- such road safety projects as are found essential for
safe and smooth traffic.
- research related to maintenance and development of roads.
- any cost-sharing, donor-funded project intended for
all or any of the purposes mentioned above.
|
Projects under the Road Fund can be taken up in association with
private entrepreneurs or financing institutions on a cost and benefit-sharing
basis. Some of the projects envisaged may not be remunerative enough
to attract 100% private participation. In such cases some incentives
will have to be given in the form of a share of the costs involved.
The Road Fund shall consist of : -
-
all moneys received from the Central Road
Fund established under the Central Road Fund Act, 2000
-
the contribution made by the Government
-
all fees, fines and other amount collected
by the Government as per the provisions of the Kerala Highway
Protection Act, 1999
-
all payments made by the concessionaire
as per the concession agreement;
-
all amount standing to the credit of the
Bridges Fund established under section 12 of the Kerala Tolls
Act, 1976
-
the user fees collected by the Government
agency or the statutory body under the Kerala Road Fund act
Act
-
grants or loans or advances made by the
Government of India or any institution
-
grants or loans or advances made by the
Government
-
all returns on investments made by the Road
Fund Board directly or through a Government agency or statutory
body
-
any amount borrowed by the Road Fund Board
-
any other amount authorised for credit to
the Fund under the provisions of Road Fund Act or rules made
thereunder or any other law for the time being in force.
The Government shall contribute to the Fund every year an amount
equal to ten per cent of the tax collected by them in the previous
year under the provisions of the Kerala Motor Vehicles Taxation
Act, 1976, and the said amount shall be charged on the Consolidated
Fund of the State.
The Board shall consist of the following members
:--
- Chief Minister-ex-officio; who shall be the Chairman
of the Board
- Minister in charge of Public Works - ex-officio; who
shall be the Vice-Chairman of the Board
- Minister in charge of Finance - ex-officio
- Minister in charge of Transport - ex-officio
- Principal Secretary to Government in charge of Public
Works Department - ex-officio; who shall be the Member
Secretary of the Board
- Law Secretary - ex-officio
- Chief Engineer, Roads and Bridges - ex-officio
- Three persons nominated by the Government from among
the heads of financial institutions engaged in the business
of infrastructure, Scheduled Banks or technical or engineering
personnel working in National level institutions.
|
There shall be an executive committee consisting
of:-
- Minister in charge of Public Works (Chairman of the
Executive Committee)
- Principal Secretary to Government in charge of Public
Works Department (Vice Chairman of the executive committee)
- Finance Secretary to Government
- Law Secretary
- Chief Engineer, Roads & Bridges
- Two members nominated by the Board from among the nominated
members of the Board.
|
The Core Road Network study undertaken by RITES, have identified
certain road projects which have potential for execution through
the BOT route considering the traffic potential, level of investment
necessary etc. The Road Fund Board proposes to implement such projects.
Home / Initiatives
/ Road Fund
