A crucial meeting on Polavaram Project will happen tomorrow in Delhi in the presence of Central and State officials to decide upon the funding to the project. The Central government had already agreed to fund all the expenses of the project from the day it is declared as a National Project. But then, in the Press Note of the Center, 2013 estimations are given and the Chief Minister is urging them to consider the latest figures.
The Central government will be decided upon the NABARD loan for this project and will also decide the timing and the installments of the loan. The state government spent 8302.76 Crore on this project till date while it spent 2754.07 Crore after it is announced as a National Project. Center only imbursed 935 Crore of that and will have to give the remaining 1819.07 Crore.
According to the latest estimates, Polavaram Project will cost 32339.29 Crore. Center will be funding only the irrigation component which comes to 28996.49 Crore. In such case, the project will need 23247.80 Crore going further. This meeting will give an idea about how the project construction will proceed going further.
