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.
SOURCES OF FUNDS
The Corpus for the fund will be provided through budgetary provision every year by Government of Tamil Nadu.
In total, a sum of Rs.3774.79 crores has been released by the Government, of which a sum of Rs.3499.43 crores has been disbursed to GCC, CMWSSB and Other expenses up to 30.09.2023.