HUDCO to provide Rs 1 lakh crore for Gujarat infrastructure projects
Gandhinagar, June 17
June: Under the guidance of Chief Minister Bhupendra Patel, Gujarat has taken a significant step towards realising the vision of Viksit Gujarat 2047, in alignment with Prime Minister Narendra Modi's vision of Viksit Bharat 2047.
In the presence of CM Patel, an MoU was signed in Gandhinagar between the Government of Gujarat and the Housing and Urban Development Corporation Limited (HUDCO) for providing long-term financing of Rs. 1 lakh crore for various infrastructure development projects across the State through a strategic partnership. Finance Minister Kanubhai Desai and Minister of State Kamleshbhai Patel were present on the occasion.
As a follow-up to the recent high-level meeting between Chief Secretary MK Das and senior officials of HUDCO regarding the provision of adequate financial resources for infrastructure projects being implemented by various State Government departments, HUDCO will extend long-term financing of Rs. 1 lakh crore to support these development initiatives across Gujarat.
The long-term funding will be utilised for the implementation of key development projects across the State, including Gujarat Metro Rail Phases 2 and 3, expressways, sports infrastructure, and the creation of world-class modern infrastructure in Dholera.
Additionally, the State Government signed another MoU with the Indian Institute of Management (IIM), Ahmedabad.
Under this MoU, IIM Ahmedabad will undertake pre-feasibility studies, feasibility assessments, preparation of Detailed Project Reports (DPRs), and impact evaluations for various projects envisioned under the Viksit Gujarat 2047 initiative to facilitate their effective implementation.
CM expressed confidence that this landmark partnership would provide fresh impetus to infrastructure development, urban transformation, and inclusive economic growth across the state.
The MoU between the State Government and HUDCO was signed and exchanged by HUDCO Chairman and Managing Director Sanjay Kulshrestha on behalf of HUDCO and Sandeep Kumar, Secretary (Economic Affairs), Finance Department, on behalf of the Government of Gujarat.
The MoU with IIM Ahmedabad was signed by Prof. Sandip Chakrabarti, Chairperson, Public Systems Group, IIM Ahmedabad, representing the institute.
The MoU signing ceremony was attended by Chief Secretary MK Das, Advisor to the Chief Minister SS Rathore, Additional Chief Secretary, Finance Department, T Natarajan, Principal Secretary to the Chief Minister Sanjeev Kumar, Additional Principal Secretary to the Chief Minister Vikrant Pandey, Secretary Ajay Kumar, and other senior officials.
— ANI
Reader Comments
Great initiative by CM Patel and HUDCO. But I hope this long-term financing doesn't mean more debt for the state. Need to ensure transparency and accountability in how this money is spent. Also linking with IIM Ahmedabad for feasibility studies is a smart move - academic rigor can help avoid past mistakes.
As someone living in Ahmedabad, I can see the metro phase 1 is already making a difference. Phase 2 and 3 will be game-changers for connectivity. But please don't forget the smaller towns - rural roads and basic infrastructure also need attention. Viksit Gujarat should mean development for all, not just cities 🙏
Good to see the government focusing on long-term planning with Viksit Gujarat 2047. IIM Ahmedabad's involvement gives more credibility. But 1 lakh crore is a huge sum - would love to see a breakdown of how each project benefits the common man. Metro and expressways are good but what about affordable housing and water supply?
Ek baar toh kuch bada hua hai Gujarat mein! 👏 But my concern is whether these projects will actually be completed or just remain on paper like many others. Also hope that the state government ensures no corruption in such massive funding. Transparent tendering and regular audits must be mandatory.
Impressive step. But let's be honest - the real test is implementation. We have seen many MoUs signed and later forgotten. The metro phase 1 took years longer than expected. With 9 senior officials present at the ceremony, I hope there's proper monitoring mechanism in place. Otherwise, ₹1 lakh crore could become a bureaucratic nightmare.