The Union Budget 2014-15 has left the ailing Fertilizers and Chemicals Travancore disappointed with an allocation of a mere Rs. 40 crore while the public sector unit is yet to receive the Rs. 211 crore allocated in the last budget, sources said on Monday.
They pointed out that there was yet no clarity on the quantum, though it was obvious that the money could be deployed only for specific activities prescribed. All eyes are now on the proposal for a revival package recommended by the Board for Reconstruction of Public Sector Undertakings (BRPSE).
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The BRPSE has recommended that a Rs.900-crore package be approved for overcoming the company’s financial problems on a permanent basis.
Meanwhile, Cochin Port Trust has been allocated Rs. 25 crore for finishing the work on National Highway connectivity for the International Container Transshipment Terminal, port sources said.
The Union government had footed the bill for a 17.2-km road link between Kalamassery and Vallarpadam Island, the site of the container terminal. The link road was built at a cost of over Rs. 800 crore.
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Spices Board Chairman A. Jayathilak said that in spite of the strict financial discipline, the Union government had given fair consideration for the spices sector which was evidenced by the allotment of Rs.104.35 crore.
Of this, Rs.94.35 crore is for the entire country and Rs.10 crore was specifically for the North Eastern region of the country.