Finances to be discussed at the EGoM meet

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New Delhi, Dec 7 (ANI): The Empowered Group of Ministers (EGoM) for the road sector is expected to meet today to decide on the financial plan for the growth of diverse highway projects the next financial year.

In the next fiscal year, the Government has planned to grant projects for building up 12,000 km of roads that will require around Rs one lakh crore.

The EGoM is also anticipated to take up the issue of raising the current cap of Rs 50 lakh on investment by an individual in 54 EC bonds, one of the fonts of funds for the National Highways Authority of India (NHAI) for road development.

"We have suggested to the Finance Ministry to increase the cap to Rs 2 crore in the past two years. With the Finance Minister being part of the EGoM, it will be considered this time," said a Government official.

Finance Minister Pranab Mukherjee, Transport Minister Kamal Nath and Planning Commission Deputy Chairman Montek Singh Ahluwalia are all a part of the EGoM. (ANI)

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