CHENNAI MEGA CITY DEVELOPMENT FUND
The Government of Tamil Nadu (GoTN) has launched Chennai Mega City Development Mission (CMCDM) and created a fund in the name of Chennai Mega City Development Fund (CMCDF) and issued guidelines for operation of the fund. The GoTN has designated Tamil Nadu Urban Infrastructure Financial Services Limited (TNUIFSL) as the Nodal Agency for CMCDM.
The fund will be used to assist Greater Chennai Corporation (GCC) and Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB) for implementing various urban infrastructure and basic services project like roads, storm water drainage, lighting, water supply and sanitation in Chennai and its Suburban areas.
FUND MANAGEMENT OPERATIONS AND PROCEDURES
The CMCDF is managed by Tamil Nadu Urban Infrastructure Financial Services Limited (TNUIFSL) based on the guidelines and procedures prescribed by the Government of Tamil Nadu (GoTN), from time to time. TNUIFSL acts as a fund manager of the CMCDF.
FUND SIZE, SOURCES AND ALLOCATION
The Corpus for the fund will be provided through budgetary provision every year by Government of Tamil Nadu. The interest from investment and any other income earned or accruing to the Fund should form part of its Corpus and shall be applied for the objective for which the fund is created. The allocation under the scheme is fully regulated by Government of Tamil Nadu and Government has absolute domain over the funds of the schemes.
The funds under CMCDM are provided to GCC and CMWSSB for implementing urban infrastructure projects in the expanded areas of Chennai.
PROCEDURE FOR APPLICATION AND APPROVAL OF GRANT
The eligible applicants are only GCC and CMWSSB. The Government has constituted a Project Sanctioning Committee with the following composition:
- Additional Chief Secretary to Government, MA&WS Department
- Secretary to Government (Expenditure), Finance Department
- Managing Director, Tamil Nadu Urban Infrastructure Financial Services Limited
- Commissioner, Greater Chennai Corporation
- Managing Director, Chennai Metropolitan Water Supply and Sewerage Board
The Nodal Agency will appraise the projects forwarded by GCC and CMWSSB and put up the proposal to the Project Sanctioning Committee for Administrative Sanction.
The provisions of the Tamil Nadu Transparency in Tender Act, 1998 and Tamil Nadu Transparency in Tenders Rules, 2000 shall be applicable for procurement of works / goods / services.
PERFORMANCE UP TO 2019-20
In total, a sum of Rs.2600.00 crores has been released by Government, of which a sum of Rs.2495.23 crores has been disbursed to GCC, CMWSSB and Other expenses up to 31.03.2020.