The Communist Party of India-Marxist, CPI(M) has stated that Congress Party and civic administration were issuing misleading statements about the JNNURM programme being a boon to the city. An open debate on it would prove “their empty noises”, the party said.
Addressing a press conference here on Thursday, CPI(M) State Committee member Ch. Babu Rao said the JNNURM programme pushed the city into a debt trap.
The JNNURM was a burden on city as the corporation lost Rs. 420 crore towards its rightful share in stamp duty, Rs.111 crore towards loan component, Rs. 60 crore as cost escalation on housing projects, and Rs.150 crore towards salaries and pensions.